Quotes for Imported Soybeans at Shandong Ports on October 31st
Cofeed News: today(on October 31st), Qingdao port in Shandong offers 3,450 yuan/tonne（$520）for PNW soybeans in bulk but 3,400 yuan/tonne($513) for November 5th upon delivery, 3,420-3,430 yuan/tonne ($516-$517) for Gulf soybeans in bulk for November 5th upon delivery, and 3,400-3,420 yuan/tonne ($513-$516) for Uruguayan soybeans in bulk for November 5th upon delivery, remaining flat over yesterday. Insufficient surpluses at ports amid daily soybean shipments around 2,000 tonnes and strong sentiments of traders to hold out for high prices bolster the imported soybean prices. While on the other hand, domestic soybeans keep growing, which limits the upside on imported soybeans though larger imported soybeans are going to arrive later, additionally, market insiders are not optimistic about trades in the afternoon. Weighing that, prices for imported and distributed soybeans keep firm. Overall, imported soybeans may pare gains in light of arrivals of soybeans in early November and eased stocks pressure in the first 20 days of November at ports. (USD $1=CNY 6.628)
