Argentina's soybean fell again under the influence of low demand
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Last Update: 2002-08-06
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Source: Internet
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Author: User
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Introduction: Buenos Aires (Reuters) - Argentina's soybean spot price fell again on Friday, mainly due to the sharp fluctuation of Chicago's soybean futures price and low local demand, so the number of transactions was small Rosario's traders said today's trading was very light and there was basically no deal In recent weeks, the local soybean price in Argentina has been closely related to the trend of Chicago soybean, and the trend of the latter has been volatile due to the weather in the soybean planting belt The peg was flat on Friday, with the peso trading at 3.63/3.65 to the dollar Soybean prices have soared at the beginning of trading, but exporters and local companies have pushed prices down to all day lows in the tail market Traders said that most of the traders left the market to wait and see The price drop has not been strongly supported by fundamentals, and everyone is waiting for a better price For farmers, hoarding equals saving Soybean prices at all ports fell 10 pesos to 550 pesos, or $150.70 a tonne, in Rosario and Bahia Blanca In quequequequen, 535 pesos per ton, in Buenos Aires, 530 pesos per ton Peg
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