Quotes for Imported Soybeans at Shandong Ports on December 12th
Cofeed News: today (on December 12th), Qingdao port offers 3,470-3,500 yuan/tonne ($524-$529) for some PNW soybeans, keeping flat over yesterday as port delivery is troublesome due to soybean flow concerns. In fact, prices for imported and distributed soybeans remain stable as stocks of imported soybeans at ports have not significantly piled up amid strict inspections at ports to somewhat limit the sales, on the other hand, limited supplies in market and traders’ strong sentiments for higher offers boost the performance. Additionally, domestic soybeans keep growing in market and imports of soybeans are seen to arrive in large quantities, to illustrate, more than 17 Mln tonnes of soybeans will be imported during December and January(2018), 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 6.621)
