China's reserve soybean auction continues to see rise in trading
BEIJING, Sep 05, 2013 (Xinhua via COMTEX) --
?China sold out 417,448 metric tons
(tonnes) or 82.95 percent of the 503,223 tonnes of state reserve
soybeans available at an auction on Thursday, according to the
National Grain and Oil Trade Center.
The transaction rate increased from 79.3 percent at the previous
reserve soybean auction held a week earlier, with the average trading
price also rising moderately.
Transaction rate at the domestic reserve soybean auctions has gone
up in the past several weeks thanks to the appealing prices.
Boosted by weather concerns, the US soybean prices continue the
upward trend and drive up China's imported soybean prices as well,
which is pushing more processing mills to buy cheaper soybeans at the
reserve soybean auctions. (Edited by Liu Xiaoyun, firstname.lastname@example.org)
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