Quotes for Imported Soybean at Shandong Ports on October 11th
Cofeed News: today(on October 11th), Qingdao port in Shandong prices 3,380 yuan/tonne（$514） for PNW soybeans, keeping flat over yesterday; Weifang port offers 3,380-3,390 yuan/tonne（$514-$516）for PNW soybeans, 3,350-3,360 yuan/tonne ($509-$511) for Uruguayan soybeans of poor quality, both increasing by 10 yuan/tonne over yesterday. 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. Yet, prices for imported and distributed soybeans may be restrained to go up further 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 market for imported soybeans will be dim provided if prices for domestic soybeans are dragged down by heavy domestic soybeans in market.(USD $1=CNY 6.576)
