Chicago soybeans rose, Argentina soybeans strengthened
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Last Update: 2002-08-15
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Source: Internet
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Author: User
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Introduction: on Friday, Argentina's soybean spot price rose for the fourth day in a row On the one hand, farmers in the local market expected the price to be stronger, so they hoarded goods and were reluctant to sell them On the other hand, Chicago's soybean futures price was depressed first and then increased on Friday, which also drove the local price higher Since this year, local soybean farmers in Argentina have been reluctant to sell the harvested food and oilseeds This is because the economic situation is volatile, so the food and oilseeds become a value preserving commodity In order to encourage farmers to sell beans, buyers have to raise their prices again and again One dcz businessman said that the strong trend of soybeans today is mainly due to Chicago, because the peso exchange rate in the foreign exchange market has been stable The peso exchange rate was flat The peso traded at 3.61/3.63 to the dollar in block trading, flat on Thursday It is also the Argentine Peso that has been stable at its current level for several consecutive days Dcz in Rosario, soybean prices rose 5 pesos to 565 pesos, or $156.60 In Bahia Blanca, soybean prices rose 5 pesos to 565 pesos, and in quequequen to 555 pesos.
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