Quotes for Imported Soybeans at Shandong Ports on October 25th
Cofeed News: today(on October 25th), Qingdao port in Shandong offers 3,485 yuan/tonne（$525）for PNW soybeans with a rise of 5 yuan/tonne over yesterday; Dongjiakou port offers 3,510 yuan/tonne ($528) for Gulf soybeans, higher by 10 yuan/tonne over yesterday. Prices for imported and distributed soybeans are buoyant today as insufficient soybean surpluses at ports and strong sentiments of traders to hold out for high prices bolster imported soybean prices to some degree. Nevertheless, growing domestic soybeans in market and larger arrivals of imported soybeans later will dwarf the momentum of price growth. Overall, imported soybeans at ports may remain stable with good momentum for growth in a short run till the end of supply tension. Later, imported soybeans may pare gains given heavy domestic soybeans in market and eased stocks pressure in the first 20 days of November at ports. (USD $1=CNY 6.642)
