Quotes for Imported Soybeans at Shandong Ports on January 2nd, 2018
Cofeed News: today (on January 2nd), PNW soybean prices at Qingdao port rise to 3,370 yuan/tonne ($519), up 10 yuan/tonne, while PNW soybean prices at Dongjiakou port keep flat at 3,350-3,360 yuan/tonne ($515-$517) amid unquoted US Gulf soybeans, moreover, most are unquoted at Rizhao ports. On the whole, prices of most imported and distributed soybeans keep stable in spite of a small rally for some soybeans, on one hand, limited supplies available for trade in market due to strict port inspections and some traders’ sentiments for higher offers after previous prices reduction somewhat support imported soybeans, on the other hand, port delivery is not much with daily delivery amounting to 2,000 tonnes or so when domestic soybeans keep growing in market and imports of soybeans are seen to arrive in large quantities, as a result, market players now are seen to stand sidelines, thus retraining its price rebound. Generally, imported and distributed soybeans in a shorter term will experience a volatile session, in that attention should be paid to port inspections and soybean arrivals. (USD $1=CNY 6.50)
