Friday, September 4, 2009

Breaking News-RTRS-China soy importers wait amid slumping market-survey

BEIJING, Sept 3 (Reuters) - Chinese soybean buyers will probably limit their imports in the week ahead, following a slump in domestic soymeal and soyoil prices, an official survey released on Thursday showed.
But lower imports in August and September, coupled with a smaller domestic harvest, could prompt buyers to resume strong imports later, said the National Grain and Oils Information Centre (CNGOIC).
China's soy imports in September were expected to be near the same low level as in August, or at about 2.6 million tonnes. The low imports have reduced stockpiles of imported soy at ports.