Quotes for Imported Soybean at Shandong Ports on October 9th
Cofeed News: today(on October 9th), Dongjiakou port in Qingdao, Shandong prices 3,380 yuan/tonne（USD $509/tonne） for PNW soybeans in bulk, 3,450 yuan/tonne（USD $520/tonne） for Gulf soybeans in bags, both remaining flat against September 30th, 3,350-3,360 yuan/tonne (USD $505-$506/tonne) for Argentine soybeans in bulk. Prices for imported and distributed soybeans keep firm, still, insufficient soybean surpluses and strong willingness of traders to hold out for higher prices continue to prop up soybeans prices amid approximate 3,000 tonnes soybeans are shipped at ports everyday. Yet, prices for imported and distributed soybeans may be restrained to some degree since domestic soybeans have entered the market recently to slow down the shipment of imported soybeans. Overall, near-term fluctuations will continue steadily on imported soybeans, but import later will be dwindling provided if prices for domestic soybeans are dragged down by heavy domestic soybeans in market.
