Quotes for Imported Soybeans at Shandong Ports on December 22nd
Cofeed News: today (on December 22nd), PNW soybean offers at Qingdao port keep flat at 3,440 yuan/tonne ($523), while Dongjiakou ports offer 3,420 yuan/tonne ($520) for PNW soybeans, down 20 yuan/tonne and 3,480 yuan/tonne ($529) for US Gulf soybean, keeping flat against yesterday, meantime most are unquoted at Rizhao ports. On the whole, prices of most imported and distributed soybeans stay stable amid some falls, on one 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. On the other hand, limited supplies available for trade in market and traders’ strong sentiments for higher offers amid strict port inspections limit the downside. 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 6.576)
