China soy ports still facing congestion

Congestion at China's soy-unloading ports will persist this month as more cargoes arrive, pushing up stockpiles in the country, the biggest buyer, according to the China National Grain & Oils Information Center (CNGOIC).

Qingdao and Rizhao ports in Shandong have reported unloading difficulties, the centre said, without stating how it got the information. About 6 million tonnes of soy are estimated to arrive in June, it said.

More than 100,000 tonnes of soy are stored in bags at Qingdao Port and more are expected as traders without crushing capacity seek space to keep their beans. The situation at nearby Rizhao Port was worse because it has little room to store beans, according to the official.

Soy imports of 4.37 million tonnes in May were below trade estimates of at least 5 million tonnes, analysts said.