Thursday, August 6, 2009

Breaking News-RTRS-UPDATE 2-China's 3rd soybean auction gets poor response

BEIJING, Aug 5 (Reuters) - China sold less than 1 percent of soybean stocks in its third attempt to auction state reserves on Wednesday, much as the market had expected after two earlier rounds failed to attract buyers.
The auction in Inner Mongolia recorded the sale of 4,300 tonnes of the 101,400 tonnes on offer while in Heilongjiang 600 tonnes were sold from about 300,000 tonnes on offer, the National Grain and Oil Trade Centre said.
There were no bids at Jilin province where a total of 100,600 tonnes was on offer.