14:16, 14.08.2009 — Новости
автор: OilWorld.Ru

DJ China Soybean Prices Stable; Processors Cautious In Buying (ENG)


BEIJING (Dow Jones)--Soybean prices in China's major producing areas were
stable in the week to Friday, as processors were cautious in buying due to
uncertainties in the price outlook.

  Soybean prices in Harbin city in Heilongjiang, a key growing province, were
around CNY3,640 a metric ton, unchanged from a week earlier.

  In Jiamusi, also in Heilongjiang province, prices were CNY3,560/ton, also
unchanged.

  A rapid rise in imported soybean prices gave the government an opportunity to
sell from reserves at higher than purchase prices.

  However, many soybean processing plants were reluctant to buy actively on
concerns the recent rise in soyoil and soymeal prices may not last long amid
pressure from ample stocks, the China National Grain and Oils Information
Center said in a note.

  The rise in volumes sold at the government's weekly auctions are leading to
concerns soybean prices could fall as greater supply enters the market.

  Soyoil prices were higher tracking a surge in vegetable oil prices in the
futures market.

  First-grade soyoil prices in Dongguan in Guangdong province were
CNY7,600-CNY7,800/ton, versus CNY7,500/ton a week ago. In Rizhao in Shandong
province they were CNY7,550-CNY7,700/ton, versus CNY7,500/ton.

  Soymeal prices remained mixed, with demand declining after a surge in prices
in recent weeks.

  In Dongguan, soymeal was CNY3,530-CNY3,570/ton, compared with CNY3,550/ton a
week ago. In Rizhao, it was CNY3,450-CNY3,480/ton versus CNY3,500/ton.


  -Zheng Xiaolu contributed to this story, Dow Jones Newswires; 8610 6588-5848;
tracy.zheng@dowjones.com


  

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