COMMODITY BRIEFS

COMMODITY BRIEFS

JAPAN SOYBEAN BUYING

50 PERCENT COMPLETE FOR JUNEPurchases of U.S. and Brazilian soybeans for June shipment are more than 50 percent completed and amount to about 168,000 metric tons, slightly ahead of the total bought at this time last year, according to traders here.

Buying for July shipment stands unchanged from two weeks ago at about 35,000 tons Brazilian beans, they said. No U.S. soybeans have been purchased for July shipment.

About 30,000 tons of U.S. beans and 130,000 tons of Brazilian beans have been bought for June shipment, dealers said. The 8,000-ton balance comes from Argentina, they said.

Remaining purchases for June shipment will come from the United States, which has a better record of delivery, the dealers said. But they added that the popularity of Brazilian beans, which have a higher oil content than U.S. beans, was expected to continue unabated by the drastic economic reforms taking place in that country.

Dealers said they expected total June and July shipment soybean imports to be about 300,000 tons for each month.