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China’s Heilongjiang to Sell 246,000 Tons Soybeans, Center Says

Dec. 2 (Bloomberg) -- China’s Heilongjiang province will auction 246,000 metric tons of soybeans from provincial reserves tomorrow, the Harbin National Grain Trade Center said.

The soybeans were harvested in 2008, the auction center said on its website Grain.hl.cn yesterday. Only crushers located in the province with daily crushing capacity of more than 500 tons can participate and the purchases may not be resold, the center said without elaborating.

The soybeans will be offered at a minimum bidding price of 3,633 yuan ($545) a ton, Cnyouzhi.com said on its website today, without saying where it got the information.

Separately, China’s central grain manager will auction 300,000 tons of soybeans tomorrow, the National Grain & Oil Trade Center said last week.

To contact Bloomberg News staff for this story: William Bi in Beijing at wbi@bloomberg.net

To contact the editor responsible for this story: Jim Poole at jpoole4@bloomberg.net

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