Newcastle had an opening bid of €14.5m turned down earlier this week and Voetbal International says an improved offer has also been rejected over the last 24 hours.
Feyenoord are prepared to sell Jorgensen this month - but for no less than €23m.
On Wednesday night, after their draw with FC Twente, Feyenoord coach Gio van Bronckhorst stated: "You know that a lot can happen at this stage of the transfer window. We will therefore have to wait what the coming days will bring.
"You are always dependent on the market, especially if an English club is interested, it can move fast."