China soybean crushers suspend operations amid high soymeal stocks -news portal

FILE PHOTO: A Chinese ship is loaded with soybeans at Port of Santos May 19, 2015. REUTERS/Paulo Whitaker/File Photo

BEIJING, Aug 10 (Reuters) – Soybean crushers in China’s Shandong province have suspended some operations due to port delays that are holding up import cargoes of the oilseed, and amid pressure from high soymeal stocks, industry portal Cofeed reported on Thursday. The cuts, though short term and with some plants already restarted, boosted soymeal prices and crushing margins, easing pressure on the market from a growing glut of meal. Soymeal prices in Rizhao SM-EXFRZH-STD – the main import hub for Shandong

Source: China soybean crushers suspend operations amid high soymeal stocks -news portal