Quotes for Imported Soybeans at Shandong Ports on December 21st
Cofeed News: today (on December 21st), PNW soybean offers at Qingdao port and Dongjiakou ports stay at 3,440 yuan/tonne ($524), while US Gulf soybean offers at Dongjiakou ports are 3,480 yuan/tonne ($530), all keeping flat against yesterday. On the whole, prices of imported and distributed soybeans stay stable without decline, on one hand, limited supplies in market and traders’ strong sentiments for higher offers amid strict port inspections limit the downside, on the other hand, sales of imported and distributed soybeans are impeded with troublesome delivery at ports 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. Generally, imported and distributed soybeans in a shorter term will experience a volatile session with downward tendency in terms of increasing market circulation. Attention should be paid to port inspections and soybean arrivals. (USD $1=CNY 6.57)
