Quotes for Imported Soybeans at Shandong Ports on November 29th
Cofeed News: today(on November 29th), Qingdao port offers 3,460-3,470 yuan/tonne($524-$526) for US Gulf soybeans, and 3,280-3,290 yuan/tonne($497-$498) for Uruguayan soybeans, keeping flat over yesterday. Prices for imported and distributed soybeans keep stable, and 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 inspections at ports, 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. Attention should be paid to later soybean arrivals. (USD $1=CNY 6.601)
