Monday, August 24, 2009

Breaking News-RTRS-China's imports of new U.S. soy crop stay brisk -survey

BEIJING, Aug 21 (Reuters) - The new, cheap U.S. soy crop has attracted buyers in China, the world's largest importer, and Chinese crushers are likely to continue brisk imports in coming weeks, according to an official survey issued on Friday.
The U.S. soy price for January shipment at about 3,550 yuan ($519.7) was 6 percent lower than Beijing's bidding price for its soy reserves, and the China National Grain and Oils Information Center (CNGOIC) said that favorable price differential would continue to spur imports in the weeks ahead.