China s northeast Heilongjiang province failed to sell any of the 191,517 metric tons soybeans it had on auction today as crushers expect prices of the oilseed to fall, researcher Cnyouzhi.com said on its website.
The auction s minimum bid price was 3,750 yuan ($564) a ton, said Cnyouzhi.com, which is run by China Grain Reserves Corp. Government price-curbing measures reduced buyer bullishness, and as the domestic supply is ample, crushers decided to wait until the market outlook gets clearer, the site said.
