Chinese soybean importers and oil companies are waiting for Quarantine License

Introduction: Sao Paulo, Sept 10 (odj): according to traders on Wednesday, China's soybean importers and oil companies continue to hold a wait-and-see attitude this week, as they are waiting for quarantine permits and other documents needed for import 4zf traders said they failed to make a bid for Chinese customers this week because no one was eager to import soybeans because of uncertainty about when the government would issue a license 4zf last week, the Pacific Northwest Coast Port offered 130 cents / bushel (CBOT November contract) for the October shipment of us oil beans at CFR China port This week, the U.S Gulf region's November shipment price for CFR China port was 131 cents / bushel (CBOT November contract), compared with 138-139 cents / bushel last week At present, about 10 ships of imported soybeans are still parked at Chinese ports waiting for quarantine licenses, said a Shanghai based trader Although importers believe they will eventually get the licenses, the problem is that they don't know when to get them 4zf traders said that China's Ministry of Agriculture issued a new security certificate last week, but getting a security release from the Ministry of agriculture does not mean that it can be imported soon Because in addition to the safety certificate, Chinese importers need to get the Quarantine License from AQSIQ before signing the contract or unloading the port Due to the slow speed of licensing by AQSIQ, many imported soybean ships have to stay in Chinese ports, resulting in the increase of demurrage costs 4zf Japanese oil companies started to purchase soybeans for November shipment 4zf according to traders, although Japanese oil companies were waiting for the price of soybeans to fall, but due to the uncertainty of current CBOT soybean price, they have started to order soybeans for November shipment 4zf currently offers 155-156 US cents / bushel (CBOT November contract) for November shipment of CFR Japan port soybeans, compared with 155-158 US cents last week After basically completing the purchase of October shipment, Japanese oil companies are now in the process of purchasing soybeans for November shipment "Japanese buyers don't expect CBOT soybean futures to fall immediately, so that's why they are doing this," said one trader 4zf