BEIJING, Sept 27 (Reuters) - Crushers in China, the world's largest soy consumer, bought 400,001 tonnes of soybeans from the government's bi-weekly auction at an average price of 4,298 yuan ($680) per tonne, the Chinese government said on Thursday.
The interest in beans sold from state reserves comes as crushers take advantage of lower prices at home after U.S. prices rallied due to an historic drought. The domestic market is also expected to see a shortage during the ongoing peak consumption season.
Crushers bought up all the soy on offer and the average price sold was slightly lower than the 4,548 yuan recorded at the last auction on Sep. 13.
