Importers have purchased about 60,000 tonnes of soybeans likely to be sourced from the United States, European traders said on Monday. The soybeans are for shipment in October/November and were in addition to a deal for about 65,000 tonnes of U.S. soybeans for September shipment reported on May 4.
The latest purchase was made by a multinational trading house for distribution among several industrial consumers in Pakistan, they said. The soybeans were bought at a premium of about $56 c&f over the Chicago November soybean contract, they said. Pakistan has been a heavy buyer of soybeans from North and South America in recent months. Higher import duties on soymeal have fuelled larger imports of unprocessed soybeans. More Pakistani soybean purchases are expected in coming months, traders said.
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