Monday, June 8, 2009

Breaking News-RTRS-China soy crushers in red after CBOT price rally

BEIJING, June 5 (Reuters) - A rise of Chicago Board of Trade soy prices (CBOT) is leading Chinese soy plants to operate at a loss as they crush soybeans imported from the United States and South America, according to an official survey.
Imported soybeans for July shipment rose to more than 4,300 yuan ($629.3) per tonne after CBOT soy <0#S:> hit its highest level since mid-September, leading crushers to post losses by selling their soy products at current prices, the China National Grain and Oils Information Centre (CNGOIC) said in a report.