Monday, July 21, 2008

Breaking News-China soy, meal market weak, grains strong-survey

BEIJING, July 18 (Reuters) - China's soy and soy products markets were expected to turn bearish in the coming week due to ample supplies, while the outlook for grains stayed strong amid tight supplies and higher transport costs, a survey by an official think-tank showed on Friday.

Heavy arrivals of soybeans in June coupled with a price decline for soyoil and soymeal were expected to reduce interest among crushers in the purchase of more oilseed, the China National Grain and Oils Information Centre (CNGOIC) said.