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Quotes for Imported Soybeans at Shandong Ports on October 20th

2017-10-20 www.cofeed.com
    Cofeed News: today(on October 20th), Qingdao port in Shandong offers 3,480 yuan/tonne($526)for PNW soybeans in bulk, 3,500 yuan/tonne ($529) for Gulf soybeans in bulk. Prices for imported and distributed soybeans today keep firm mostly as growing domestic soybeans in market dwarf imported soybeans, but insufficient soybean surpluses at ports and strong sentiments of traders to hold out for high prices in return 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. Yet, market for imported soybeans will be gloomy if heavy domestic soybeans later in market to overwhelm  the prices. (USD $1=CNY 6.619)