China buys a lot of soybeans and Asian Freight keeps stable
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Last Update: 2002-07-17
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Source: Internet
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Author: User
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Lead: Tokyo, July 16: China's bulk shipping prices from the U.S Gulf to Japan are expected to continue to strengthen this week, brokers said on Tuesday, as China has recently bought a large number of soybeans from South America Panamanian freighters from the US Gulf to Japan shipped $18.50 a ton in August, compared with $18.25 a week ago Trade in fertilizers and steel products is stable in the Atlantic market, but last week's news that China bought 5 to 10 ships of soybeans from South America gave some support to ocean freight "The Chinese deal was unexpected," said the broker in Tokyo We expect China to buy another 5 to 10 ships of soybeans for August shipment " Some beans will be shipped from Brazil to China in July, but he thinks most of them will still be shipped from Argentina, where they are cheaper than Brazil The recent tight supply of old beans and the decline in new crop ratings have made American soybeans expensive, leading many Asian buyers to turn to cheap South American soybeans or simply stop buying them (author:) share to feed Weibo share to:
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