Thursday, September 3, 2009

Breaking News-RTRS-China soy importers quiet after large Aug purchases

BEIJING, Sept 2 (Reuters) - China's soy importers are expected to stay on the sidelines this week after buying large chunks of the new U.S. soy crop late last month in response to wide price spreads <0#DSM:><0#DBY:> between the United States and the Dalian Commodity Exchange, traders said on Wednesday.
In the last two weeks of August, Chinese importers bought more than 25 cargoes of the new U.S. soybean crop, each holding 55,000-60,000 tonnes, which pushed up U.S. soy premiums and narrowed the spread, they said.