Quotes for Imported Soybeans at Shandong Ports on December 6th
Cofeed News: today(on December 6th), Qingdao port offers 3,450 yuan/tonne($522) for PNW soybeans, keeping flat over yesterday, yet prices upon delivery for some PNW soybeans in the next two days are revised at 3,420-3,430 yuan/tonne($517-$519), while stocks for US Gulf soybeans are basically exhausted. Stocks of imported soybeans at ports have not significantly piled up amid strict inspections at ports to somewhat limit sales of imported and distributed soybeans, on the other hand, limited supplies in market and stricter GMO certificates censorship boost the performance, given that, imported and distributed soybeans today are stable. Indeed, sales of imported and distributed soybean are quite few 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, as a result, market players now are seen to stand sidelines. Generally, prices for soybeans are mixed today and overall, imported and distributed soybeans in a shorter term will experience a volatile session, and later will be under strain in terms of increasing soybean arrivals at ports. Attention should be paid to port inspections and soybean arrivals. (USD $1=CNY 6.613)
