Palm | Kelapa Sawit

BEIJING/SINGAPORE, June 9 (Reuters) - Speculation that China may release soybeans from its state reserves is putting pressure on Dalian soybean futures <0#DSA:>, which fell about 2 percent on Monday and a further 1.5 percent on Tuesday, traders said.
The government has asked Sinograin, its buying agency, to keep buying soy until the end of June, when it will complete a stockpiling campaign aimed at supporting farm incomes and building up a state reserve that can be called on later in case of sharp price rises.
Traders said the speculation about soybeans was sparked by a read-across from the corn market, which has fallen due to talk of Sinograin releasing some corn stocks later this month.