Daily review of Argentine soybean spot market: Chicago down, Argentina

Lead: Buenos Aires (Reuters) - Argentina's soybean spot prices plummeted Thursday, erasing Wednesday's gains as Chicago's soybean futures fell sharply In recent years, the trend of local soybean prices in Argentina and Chicago has been closely linked Soybean futures in the U.S market are volatile due to weather changes So this week's market is like riding a roller coaster, rising on Monday, falling on Tuesday, rising on Wednesday and falling on Thursday Chicago soybeans fell Thursday as rain in the soybean belt eased concerns about the drought In Rosario, soybean prices fell 15 to 20 pesos to 540-545 pesos per ton, or US $148.90-147.50 In Bahia Blanca, soybean prices fell 20-30 pesos to 530-540 pesos In quequequequen and Buenos Aires, soybean prices plunged 30 pesos to 510-515 pesos per ton The decline was also due to a decrease in the number of soybeans sold in the market At one point, the local market in Argentina tried to get rid of Chicago's influence so as to be able to sell more soybeans, said one trader Farmers are not in a rush to sell, so buyers need to raise prices to get soybeans Corn prices also fell at local ports, also due to the Chicago period, but the decline was limited by a shortage of supply In Rosario, corn fell 9 to 14 pesos to 275-281 pesos per ton, while in quequequen, it fell 10 pesos to 260 pesos per ton In Bahia Blanca, a ton fell 15 pesos to 270 pesos In Rosario, the price of exported wheat was stable at 410 pesos per ton The wheat processing plant in Buenos Aires paid 480-490 pesos per ton, the same as the previous trading day In Bahia Blanca and quequequequen, the export price of wheat was 460-470 pesos per ton On Thursday, the peso was trading at 3.64/3.66 to the dollar, the same as Wednesday (author:) share to feed Weibo share to: