Quotes for Imported Soybeans at Shandong Ports on January 9th
Cofeed News: due to a strict investigation by State Commodity Inspection Department, prices of most imported and distributed soybeans are stopped to report at Qingdao and Rizhao ports. Market speculates that the January supply/demand report by USDA is likely to show an adequate supply of soybeans worldwide as weather pattern goes better in South America, in this case, US soybeans overnight edged lower, bringing about bearish sentiment to the domestic soybean market. Yet, in consideration of ample domestic soybean supply and large soybean arrivals, market players estimate that price decline may come after resumed quotation, still, attention should paid to port inspections and soybean arrivals.
