Palm | Kelapa Sawit

BEIJING, April 17 (Reuters) - China will extend state purchases of domestic soybeans by two months beyond the scheme's planned April expiry, traders said on Friday, a move that could keep imports at the near record levels that have boosted Chicago futures to six-month highs.
The government is still 2 million tonnes short of its target for purchases as many farmers are still holding onto last year's harvest, while beans often don't meet required moisture levels.
"The purchase for reserves will last until June, but the amount will remained unchanged. The authorities are close to a decision as far as we know," said Yu Haifeng, a dealer with Heilongjiang Tianqi Futures Co. Ltd.