Soybean Price Kept Strong

By CnAgri2013-06-07 11:09:17 Print Soybeans: In Heilongjiang, prices for domestic soybeans kept stable this week. As for ports, distribution price for imported soybeans increased slightly. Stocks at major domestic ports still keep at a low level and market supply sees no significant improvement. Domestic soybean price is predicted to keep strong and port distribution price to increase slightly with tight domestic supply and high international prices. (Figure 10)

  


Cost for China Imported Soybeans：On June 3rd, cost for soybean imported from U.S. was RMB4106/MT, up RMB148/MT from last week; cost of soybean imported from Brazil was RMB 4455/MT, up RMB42/MT from last week; cost of soybean imported from Argentina was RMB4425/MT, up RMB24/MT from last week. In short terms, tight condition of spots shall make soybean market keep strong; besides, as planting of American soybean went significantly slower than previous year, which brought concerns to market and played supports to international soybean; but in the long run, soybean supply shall increase gradually all over the world, so soybean price shall go down.

    

From “China Oil and Oilseeds Market Weekly Report”