Light demand, soyoil prices continue downward

In May, the domestic soybean oil spot market price fell all the way, and the decline was relatively large. The overall market fell by about 700-800 yuan/ton from the beginning of the month. Taking Shandong Province as an example, the price of soybean oil at the beginning of the month was still around 9820 yuan/ton, and it was at the end of the month. The price has dropped to 8950 yuan / ton, the fall in space at 870 yuan / ton, a decline of 8.86%.

The main reasons for the decline in prices were the weak demand for terminals, the continued poor market movements, and the drag on global economic concerns. Following the May 1 holiday, domestic soybean oil market demand has been weakened and shipments have been deteriorating. In addition, the weak global economic data has frequently interfered with the market, and the Euro zone concerns led by the Greek issue are also heating up. Under such circumstances, domestically The bullish confidence of the market traders is very fragile, and the willingness of shipping is positive and the transaction status is very unsatisfactory.

At the same time, the alternative palm oil trend is not satisfactory, and the low price also has a certain impact on the soybean oil market. Due to this drag, the soybean oil spot continued its downward trend this month and rebounded weakly.