WORRIES ARISE OVER CHINA'S COMING SOYBEAN RESERVE SALE
AsiaInfo Services, June, 2009
AsiaInfo Services 06-23-2009 Worries Arise over China's Coming Soybean Reserve Sale BEIJING, Jun 23, 2009 (SinoCast Daily Business Beat via COMTEX) -- Speculations are emerging in China after the State Reserve Bureau (SRB) unveiled its plan to sell part of the 7 million tons of soybean reserves. Investors are worrying that the prices of soybean futures in and out of China are likely to move down after the soybean reserves flow into the market at a low price.
Statistics showed that costs of imported soybean shipped to the ports in China in July and August would stand at more than CNY 4,000 per ton. Soybean futures price in the US is likely to maintain the upward trend in the long term, as the local soybean inventory is likely to remain short of demand next year,...
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