Monday, March 30, 2009

Breaking News-RTRS-China soyoil strong as more crushers close -survey

BEIJING, March 27 (Reuters) - China's soyoil market has turned bullish as supplies tighten amid more crushers shutting down operations in the north, but the outlook will be pressured by heavy imports of soybeans, an official survey showed.
Soyoil demand will "stay at a high level" in coming weeks as retailers are building up stocks, the China National Grain and Oils Information Centre (CNGOIC) said in the report.