China Soybean prices increase from Goverment action

The China's cash soybean prices in main planting areas were increase last week. From the government promising to purchase soybean crop this year for national reserve that make farmer delay sell to processor. China's government will continue to buy major grain for supported prices if prices fall after the harvest season. The expectation of buying prices would higher than last year prices of CNY3,700 per tonnes.

China soybean prices;

• Bei'an, in Heilongjian provice = CNY3,450 per tonnes (last week CNY 3,500 per tonnes)
  
• Jiamusi, in Heilongjiang, = CNY3,520 per tonnes (last week CNY3,500 per tonnes)
  

By the way, China's Soyoil prices were higher from local stock become lower.

China soyoil prices;

• Rizhao in Shandong = 7,050 - 7,250 CNY per tonnes (last week 6,950 CNY per tonnes)
  
• Dongguan in Guangdong = 7,150 CNY per tonnes (last week 6,900 CNY per tonnes)

China soymeal prices were increase because imported soybean arrivals decline in this month, price would remain in high levels by strong demand.

China soymeal prices;

• Rizhao = 3,520-3,580 CNY per tonnes (last week 3,430 CNY per tonnes)
• Dongguan = 3,500 CNY per tonnes (last week 3,460 CNY per tonnes)