Asian soybean import outlook this week: South Korea, China and Japan will look for buying

Introduction: South Korea and China are expected to buy American and South American soybeans this week, while Japan is also expected to buy a small amount of American soybeans Indonesia's soybean meal purchases are likely to be suspended this week as a result of the crisis China: if world soybean prices fall sharply, some Chinese soybean importers may purchase soybeans this week, mainly those shipped in early August in South America The recent decline in CBOT soybean prices has brought South American soybean C & F prices down to US $213-214 from 226 yuan / ton a week ago But many Chinese buyers still target soybeans below $210 Buyers in the North need to buy soybeans shipped in early August to ensure that they arrive in September before the local harvest (late September or October) If these buyers need to order soybeans shipped in early August, they must sign a purchase contract this week If these buyers don't order South American soybeans in early August, they need to support a higher premium when ordering us soybeans shipped in August, because the shipping time from the United States to China is about 15 days shorter than from South America to China However, it is expected that the possibility for China to order American soybeans is very small, because the basis of American soybeans (corresponding to the August CBOT price) is 8 cents higher than that of South American soybeans Traders have not been able to confirm rumors last week that China had bought a shipment of us soybeans for August It is expected that soybean supply in China's domestic market will be tight in September due to the recent slowdown in imports due to uncertainty in GM regulations.