Soybean: DCE A2611 soybean closed the week at Yuan 4,911/tonne, down Yuan 135 WoW. Spot prices in Northeast China stayed firm. Traders were clearing old-crop stocks and buying new-crop soybeans from Hubei, Shanhaiguan areas, or Russia. Players await late-September new grain marketing and opening pricing.
Edible Oil: The domestic vegetable oil sector showed an overall weak, downward range-bound pattern, with the market mainly following overseas market moves. Bearish data from key reports including USDA, MPOB, and ITS dominated price action. Meanwhile, the domestic spot demand did not meet peak-season expectations, and ongoing inventory accumulation continued to cap spot price upside.
Hog: The hog prices averaged Yuan 10.77/kg last week, down 1.46% week-on-week and 17.34% year-on-year. Heavy selling by group farms and smallholders led to ample supply, pushing prices lower. Mid-Autumn stocking may support a slight rebound this week, but demand has stayed flat.
Grain: National corn price ran softly with slightly divergence in different areas. High traders' inventories and weak demand have kept corn prices under pressure in the new season.
Cotton: Xinjiang's smaller-than-expected production decline and reserve cotton releases weighed on cotton prices, while weak "Golden September" demand left buyers cautious. Cotton prices are expected at Yuan 15,500-16,500/tonne this week.
