Quotes for Imported Soybeans at Shandong Ports on November 1st
Cofeed News: today(on November 1st), Rizhao port in Shandong offers 3,400 yuan/tonne($513) for PNW soybeans; Dongjiakou port offers 3,450 yuan/tonne（$520）for PNW soybeans, remaining flat over yesterday, while 3,390-3,400 yuan/tonne ($511-$513) for Uruguayan soybeans, 3,330-3,340 yuan/tonne($502-$504) for PNW soybeans for November 5th delivery and 3,430-3,440 yuan/tonne($517-$519) for November 5th delivery. Insufficient surpluses at ports amid daily 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 in early December. Weighing that, prices for imported and distributed soybeans keep firm. Later, imported soybeans may pare gains on account of eased supply pressure in the first 20 days of November at ports. (USD $1=CNY 6.629)
