Quotes for Imported Soybeans at Shandong Ports on December 15th
Cofeed News: today (on December 15th), PNW soybean offers at Qingdao port keep flat at 3,470-3,490 yuan/tonne ($525-$528), while US Gulf offers at Dongjiakou ports are still pegged at 3,500-3,510 yuan/tonne ($530-$531). On the whole, sales of imported and distributed soybeans are impeded with light turnover. Nevertheless, 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 in December-January (2018), as a result, market players now are seen to stand sidelines. In fact, prices for imported and distributed soybeans today 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. Generally, imported and distributed soybeans in a shorter term will experience a volatile session with upward tendency, but later will pressure down in terms of increasing soybean arrivals at ports. Attention should be paid to port inspections and soybean arrivals. (USD $1=CNY 6.607)
