Foreign soybean prices soar and Chinese orders decrease
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Last Update: 2002-07-19
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Source: Internet
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Author: User
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Lead: Shanghai, July 17 (Reuters) - orders in China's soybean market were low this week as South American soybeans quoted us $240 per ton for China's CNF, up from US $223 per ton last week, partly driven by the rise in CBOT soybean futures CBOT soybean futures, affected by weather in the United States, have grown 20% since late June On Tuesday, according to traders in Tokyo, China bought 5 to 10 ships of Panamax soybeans, which arrived in July, and is expected to buy another 5 to 10 ships, which will arrive in August But according to some traders in China, China may wait until the world soybean price falls before ordering a large number of them Another trader in Beijing said no one is in a rush to buy now, and everyone is hoping for a fall in futures prices, which remain high due to the hot weather in the US Earlier this year, China's crushing plants were short of soybeans due to soaring domestic soybean prices, which were hampered by China's regulations on genetically modified products According to traders, the Chinese market needs 200000 tons of soybean oil in stock to replace the production of the crushing plant The first batch of imported soybeans has arrived at Chinese ports such as Tianjin, Zhenjiang and Zhangjiagang, and more soybeans cargo ships are expected to arrive in July and August According to traders in Beijing, most of the soybeans shipped in the past two months will be put into storage (author:) share to feed Weibo share to:
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