Quotes for Imported Soybeans at Shandong Ports on November 28th
Cofeed News: today(on November 28th), affected by a strict investigation at Shangdong ports, prices of most imported soybeans are stopped to report at Qingdao and Rizhao ports. Yet, some at Qingdao port offers 3,460-3,470 yuan/tonne($524-$525) for US Gulf soybeans, and 3,280-3,290 yuan/tonne($497-$498) for Uruguayan soybeans. Though Prices for most imported and distributed soybeans are unquoted, market confidence is still buoyed as stocks of imported soybeans at ports have not significantly piled up amid strict censorship of GMO certificates to limit imports of some soybeans. Yet, with growing domestic soybeans in market and even more strict censorship, sales of imported and distributed soybean will be affected. Given that, imported and distributed soybeans will be pressured down if GMO certificates have little effect on the market. (USD $1=CNY 6.606)
