June 6, 2007

Trading in soyoil reaches new highs in China's Dalian

Transaction volumes of soyoil futures has hit a quarter of the total transactions at China's Dalian Commodity Exchange, a record high.

An expected lower soy output in the US has created frenzied buying of soy futures in China.

Lower US soy output and other factors have driven up soy futures transactions at the Dalian exchange, which is located in China's major soy production base, northeast China.

Also, there are now more enterprises and institutional investors in CHina trading in soy futures, a stock analyst said.

The surge in share investment in China recently has resulted in a bullish market which in turn drew even more investors.