Quotes for Imported Soybeans at Shandong Ports on October 24th
Cofeed News: today(on October 24th), Dongjiakou port in Shandong offers 3,480 yuan/tonne（$525）for PNW soybeans, 3,500 yuan/tonne ($528) for Gulf soybeans, both remaining flat over yesterday. Prices for most imported and distributed soybeans today keep firm in spite of roughly 2,000 tonnes of soybean shipments every day 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 have resilience to fall in a short run till the end of supply tension. Yet, imported soybeans may pare gains when heavy domestic soybeans later in market curb the delivery and stocks pressure is eased in the first 20 days of November at ports. (USD $1=CNY 6.63)
