July 11, 2012

China to sell 391,000 tonnes reserve soy in auction

The state reserve of China is seeking to auction 391,000 tonnes of soy on Thursday (July 12), the China National Grain and Oil Trade Center stated on its website.

The Chinese government sold out a total of 154,334 tonnes or 28.7% of the 537,761 tonnes of reserve soy it offered at an auction last Thursday.

Transactions at reserve soy auctions have improved recently thanks to a significant rise of market soy prices.