Soybean Auction Falters To make way for recent purchases of U.S.-grown soybeans, Sinograin has been auctioning state-owned reserves of soybeans imported in earlier years. At its second auction, sales fell to 62 percent of the volume offered, versus 77 percent in the first auction. And the average price fell to RMB 3852 (USD547.42)/MT. The share sold of soybeans offered in the third auction dropped to 32.7 percent, and the price fell to RMB 3,750.83 (USD532.74)/MT. Some say the lower demand is the result of the large volume of soybeans imported in recent weeks from Brazil.  Corn and Wheat Demand While China cancelled a tender for U.S. wheat and has plenty of corn, some say significant quality losses in the country’s corn and sprin...