Chicago's soybean surge drives Argentina's soybean up
-
Last Update: 2002-07-23
-
Source: Internet
-
Author: User
Search more information of high quality chemicals, good prices and reliable suppliers, visit
www.echemi.com
Lead: Buenos Aires (Reuters) - Argentina's soybean spot price rose sharply on Monday, supported by the rise in Chicago soybean futures Two weeks ago, local soybean prices began to rise as Chicago soybeans rose, supported by weather conditions in the United States Spot soybean prices softened last week as local export companies slowed down their purchases in an attempt to drive down prices, but on Monday, local markets were also on the move as Chicago's soybeans returned to Changhong A local soybean trader said that the soybean price here follows the Chicago soybean price, and the seller's offer is sky high Some traders say that if U.S soybeans continue to rise, local farmers may leave to see how high they can rise In Rosario, soybean prices surged 18 pesos to 570 pesos a ton, or $157 In Bahia Blanca, they rose 21 pesos to 575 pesos Corn prices were also supported by gains in Chicago, with corn rising 15 to 18 pesos in Rosario and Buenos Aires, up 20 pesos in quequeen and closing at 270 pesos In Rosario, the price of exported wheat was reported at 410 pesos per ton, while the price paid by the processing plant was 460-470 pesos per ton The wheat processing plant in Buenos Aires paid 490 pesos per ton, up 5 to 10 pesos from the previous trading day In Bahia Branca and quequequen, the export price of wheat rose 5 to 10 pesos, to 470-480 pesos.
This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only.
This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of
the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed
description of the concern or complaint, to
service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content
will be removed immediately.
