June 27, 2012

China to sell 563,100 tonnes reserve soy in auction

The state reserves of China will auction 563,100 tonnes of soy on Thursday (June 21), the China National Grain and Oil Trade Center published on its website.

The Chinese government sold out a total of 52,155 tonnes of soy or 8.48% of the 61,5239-tonne reserve it offered at an auction last Thursday.

Transactions at reserve soy auctions have improved recently as rise of market soy prices made some crushing mills turn to cheaper reserve soy.