US soyabean and corn prices dropped yesterday after China announced plans to sell some of its state reserves next week, provoking talk that this was a tactical move to pull these markets lower.
CBOT August soyabeans dropped below the $10 mark, sinking to $9.80 a bushel, a three-month trough, before recovering slightly to $9.86, down 34½ cents, or 3.4 per cent.
After buying record volumes of US soyabeans for its reserves this year, China said yesterday it would sell 500,000 tonnes. However, with imported soyabeans trading at $40 to $50 cheaper than the $549 a tonne set by the government, traders doubted whether there would be much appetite for the planned sales.
您已閱讀54%（667字），剩餘46%（562字）包含更多重要資訊，訂閱以繼續探索完整內容，並享受更多專屬服務。