Sinograin concluded its third auction of imported soybeans in recent weeks on Wednesday (12), aiming to make room for cargoes recently purchased from the United States, Reuters reported, citing two Asian market operators who participated in the negotiations. According to the news outlet, approximately 90% of the 516,000 tons offered were sold. The average transaction price was 4,023 yuan (approximately US$596.39) per ton. China's national grain center reported that the auctioned soybeans came from the 2022-2024 harvests. In the last auction, approximately 67% of the 501,000 tons of imported soybeans offered were sold. Traders also told Reuters that they expect more Sinograin auctions in the coming weeks.
This text was translated by machine from Brazilian Portuguese.