New soybeans from South America are expected to arrive in China in May

Introduction: osterdowjones, Beijing, April 12 news: on Friday, according to the report of China grain, oil and food import and Export Corporation quoted by local industry insiders and analysts, after the Chinese government removed the barriers to import Brazilian soybeans, two South American soybeans will soon sail offshore to China The first 60000 tons of Brazilian soybeans will be shipped at the port of Brazil, which is the first ship of Brazil's newly harvested soybeans to be exported this year It is expected to arrive at Chinese ports by the end of May Another 42000 tons of Argentine soybeans is scheduled to be shipped in late April, but as Panama cargo ships can carry 55000 to 60000 tons of soybeans, it is likely that the ship will also ship more soybeans to other ports The news of the two ships of soybeans led to a large number of sales of soybean futures on the Dalian Commodity Exchange on Friday, and the recent large volume of contracts fell in May and July Overnight Brazilian sources said Chinese imports of Brazilian soybeans and soybean meal do not need to apply for an official safety certificate, so Brazilian soybeans will resume shipment to China within 10 to 20 days China's soybean futures market on Friday was the most volatile day in recent weeks, and a trader in Beijing said after the market closed that the news was a fatal blow to bulls Although it will take weeks for soybeans to arrive at Chinese ports, traders see the information as a sign that China will no longer use strict genetically modified regulations to restrict imports, which the market had previously thought would be strictly controlled In addition, the inventory of the registered warehouse of Dalian Commodity Exchange increased significantly, and the market went straight to a stop under the pressure of panic selling and technical selling Last week, it was rumoured that the Chinese government would issue the first batch of temporary GM safety certificates to overseas exporters But as of Friday, the GM product safety management office had no details on the issuance of the approval certificate On Friday, an analyst at COFCO futures said: 'as far as we know, some companies have obtained approval documents But the analyst gave no details Under the interim agreement reached in March, the Chinese government must respond within 30 days of receiving the application for the interim security certificate But now no one is sure when the government will announce its approval Moreover, China has yet to announce details of the distribution of import quotas for tariff rates on grain and edible oil, which should have been announced a month ago 'everyone is waiting for the government's final confirmation, but there seems to be no time for that,' said a trader in Beijing One thing is certain, however, that China will have to resume soybean imports soon, as domestic crushers need soybeans (author:) share to feed Weibo share to: