June 20, 2012

China's state reserves to auction 600,000 tonnes soy

The state reserves of China will sell 600,000 tonnes of soy on Thursday (June 21), the China National Grain and Oil Trade Center announced in its website.

The Chinese government sold out a total of 17,922 tonnes or 2.99% of 600,000 tonnes of the reserve soy it offered at an auction of reserve soy last Thursday.

Since late May, transactions at reserve soy auctions have been at low levels as domestic processing mills lessened interest in procurement due to their low operating rate.