On May 13th, the auction deal rate of the NE reserving soybean was above 90%

By CnAgri2014-05-16 10:11:06 Print In May 13^th 2014, national grain and oil trading center bidding for sales of the NE reserving soybean, it planned to sale 2010’s soybean 300,016 tons, the real deal was 276,168 tons, the deal rate was 92.05%, and the average deal price was RMB 4322 Yuan/ton.
 
The deal conditions in different provinces are as follows:

1. Inner Mongolia: It planned to sale 72,522 tons soybean, the real deal was 48,675 tons, the deal rate was 67.12%, and the highest deal price, the lowest deal price and the average deal price were respectively, 4290 Yuan/ton, 3920 Yuan/ton, and 4078 Yuan/ton.

 

2. Jilin: It planned to sale 27,381 tons soybean, and the task was perfectly finished. The highest deal price, the lowest deal price and the average deal price were respectively, 4190 Yuan/ton, 3930 Yuan/ton, and 4069 Yuan/ton.

 



From “China Oil and Oilseeds Market Weekly Report”

 

3. Heilongjiang: It planned to sale 200,113 tons soybean, the real deal was 200,112tons, the deal rate was 99.99%, and the highest deal price, the lowest deal price and the average deal price were respectively, 4690 Yuan/ton, 3840 Yuan/ton, and 4415 Yuan/ton.

 
Since 2008, the state had promoted the reserving policy about the NE soybean for six years, the recent amount of reserving soybean was still huge, apart from the prophase bidding sales and the directional selling. In 2008, the volume of soybean purchasing was 7.25MT, and the central government reserved 1.5MT, and the temporary reserving was 5.75MT. In 2009, the volume of soybean purchasing was 3.26MT, and the above two years’ soybean was sold out. In 2010, the volume fo soybean purchasing was 3.08MT, and the remaining was 0.8MT. In 2011 the volume of soybean purchasing was 3.5MT. In 2012 the volume of soybean purchasing was 0.88MT. Since 2013, the reserving amount was about 3.3MT, among that, the reserving soybean in 2011 have not start sale. Recently the state reserving soybean was 9MT-10MT, if the central reserving soybean was added.