November 22, 2011
China will auction 300,000 tonnes of soy from state reserves Tuesday (Nov 22), according to the National Grain and Oil Trade Centre.
This will be 24th batch of state soy reserves put under the hammer since December of last year. However, the government only sold out 16,100 tonnes of the total 6.89 million tonnes of soy from reserves at the previous auctions.
Despite persistent failures, the government insisted on selling reserve soy, with the aim to save room for new soy and to stabilise the market.