Quotes for Imported Soybeans at Shandong Ports on December 4th
Cofeed News: today(on December 4th), Qingdao port offers 3,450-3,500 yuan/tonne($522-$529) for PNW soybeans, rising 50 yuan/tonne against last week. Market confidence is still buoyed as stocks of imported soybeans at ports have not significantly piled up amid strict censorship of GMO certificates to somewhat limit imports of some soybeans, thus boosting the performance of imported and distributed soybeans. Yet, sales of imported and distributed soybean are few and impeded the time domestic soybeans keep growing in market. And imports of soybeans are seen to arrive in large quantities if GMO certificates have little effect on the market, therefore market players now are seen to stand sidelines. Generally, prices for imported and distributed soybeans today are mixed where prices for most soybeans are stable, with few pricing up in market. Overall, imported and distributed soybeans in a shorter term will experience a volatile session, but later will be under considerable pressure in terms of increasing volume arrivals at ports. Attention should be paid to port inspections and soybean arrivals. (USD $1=CNY 6.614)
