Quotes for Imported Soybeans at Shandong Ports on October 18th
Cofeed News: today(on October 18th), Dongjiakou port in Shandong offers 3,470 yuan/tonne（$525）for PNW soybeans, 3,500 yuan/tonne ($529) for Gulf soybeans, both increasing by 40 yuan/tonne over yesterday. Prices for imported and distributed soybeans are buoyant today as insufficient soybean surpluses at ports and strong sentiment of traders to hold out for high prices help to bolster imported soybeans. Furthermore, prices for soybeans at ports keep growing providing that imported soybeans are not allowed to sell in market. Nevertheless, growing domestic soybeans in market in return dwarf imported soybeans to some degree. 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 6.611)
