Quotes for Imported Soybeans at Shandong Ports on October 23th
Cofeed News: today(on October 23th), Qingdao port in Shandong offers 3,480 yuan/tonne（$524）for PNW soybeans in bulk, 3,500 yuan/tonne ($527) for Gulf soybeans in bulk, both remaining flat over last week. 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 till imported soybeans are free from supply tension. Yet, market for imported soybeans will be gloomy if heavy domestic soybeans later in market amid eased stocks pressure in the first 10 days of November at ports. (USD $1=CNY 6.635)
