Quotes for Imported Soybeans at Shandong Ports on November 30th
Cofeed News: today(on November 30th), Qingdao port offers 3,480 yuan/tonne($529) for US Gulf soybeans, rising 10 yuan/tonne against yesterday, and 3,400-3,450 yuan/tonne($515-$522) for PNW soybeans, indeed, prices offered are mixed today in market. Generally, prices for imported and distributed soybeans pick up, 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 6.606)
