Quotes for Imported Soybeans at Shandong Ports on December 18th
Cofeed News: today (on December 18th), PNW soybean offers at Qingdao port stay at 3,460 yuan/tonne ($523), while US Gulf soybean offers at Dongjiakou ports are pegged at 3,460 yuan/tonne ($523) and 3,480 yuan/tonne ($526) for PNW soybeans, all down 20 yuan/tonne from last week. On the whole, prices of imported and distributed soybeans stay stable but with some declines, on one hand, sales of imported and distributed soybeans are impeded with light turnover when 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, pushing down prices of imported soybeans. On the other hand, limited supplies in market and traders’ strong sentiments for higher offers amid strict port inspections boost the performance. Generally, imported and distributed soybeans in a shorter term will experience a volatile session, but later will be pressured down in terms of increasing market circulation. Attention should be paid to port inspections and soybean arrivals. (USD $1=CNY 6.611)
