Quotes for Imported Soybeans at Shandong Ports on October 16th
Cofeed News: today(on October 16th), Qingdao port in Shandong stands at 3,360-3,380 yuan/tonne（$511-$514） for PNW soybeans; Weifang port offers 3,380-3,390 yuan/tonne（$514-$515）for PNW soybeans, 3,280-3,290 yuan/tonne ($498-$500) for Uruguayan soybeans, unchanged from last Friday. Prices for imported and distributed soybeans remain stable today as domestic soybeans keep growing in market to dwarf imported soybeans. Yet, insufficient soybean surpluses and strong sentiment of traders to hold out for high prices may bolster imported soybeans prices somewhat. Overall, a near-term strong momentum will continue steadily on imported soybeans, but prices cut on imported soybeans will come about provided if there are heavy domestic soybeans in market. (USD $1=CNY 6.58)
