June 16, 2012

China's soy state reserves sales rise on-week

The states reserves of China has sold 17,922 tonnes of soy in an auction of about 600,000 tonnes Thursday (June 14), according to the state-backed China National Grain & Oils Information Center.

The sales are higher than 13,902 tonnes during last week's auction but are still much lower than 75,788 tonnes on May 31 and 188,410 tonnes at a May 24 auction.

The average price was RMB3,816 (US$604) a tonne, down from last week's RMB3,824/tonne (US$600), it said.