Tuesday, May 12, 2009

Breaking News-RTRS -China soy buyers await US report, weak soymeal weighs

SINGAPORE, May 11 (Reuters) - China's soybean importers stayed on the sidelines on Monday, awaiting a key U.S. government report on global stocks of the oilseed as weakening domestic soymeal prices threatened to further squeeze crushing margins.
Traders said business was dull as buyers wanted to see the price movement on the Chicago Board of Trade after the U.S. Department of Agriculture unveils demand and supply estimates on Tuesday.