Quotes for Imported Soybeans at Shandong Ports on December 11th
Cofeed News: today(on December 11th), Qingdao port offers 3,500 yuan/tonne($529) for some PNW soybeans as port delivery is troublesome due to soybean flow concerns. In fact, prices for imported and distributed soybeans pick up after quotation revived. 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 traders’ strong sentiments for higher offers boost the performance. Additionally, soybean prices are mixed and in chaos when domestic soybeans keep growing in market and imports of soybeans are seen to arrive in large quantities, as a result, market players now are seen to stand sidelines. Generally, imported and distributed soybeans in a shorter term will experience a volatile session with upward tendency, but 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 6.616)
