Quotes for Imported Soybeans at Shandong Ports on October 19th
Cofeed News: today(on October 18th), Dongjiakou port in Shandong offers 3,470 yuan/tonne（$523）for PNW soybeans, 3,500 yuan/tonne ($528) for Gulf soybeans, both remaining flat over yesterday. Prices for imported and distributed soybeans meet stagflation today as growing domestic soybeans in market dwarf imported soybeans. However, insufficient soybean surpluses at ports and strong sentiments of traders to hold out for high prices help to bolster imported soybean prices to some degree. Overall, imported soybeans at ports will remain strong in a short run seeing that imported soybeans are not allowed to sell and transactions are limited in market. Rumors also go that soybean acquisition may be stopped in near future for subordinated inventories, if it proves to be real, domestic soybean prices will be plunged, and the market for imported soybeans will be gloomy. (USD $1=CNY 6.633)
