Strong demand for Argentine soybeans
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Last Update: 2002-08-09
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Source: Internet
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Author: User
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Introduction: Buenos Aires (Reuters) - Argentina's soybean spot prices rose for the third day in a row on Thursday, due to strong demand from exporters and active purchasing by domestic crushers, raising local soybean prices This year, local soybean producers have been reluctant to sell because of the unstable situation in Argentina and the devaluation of the peso Farmers are more willing to hoard soybeans, while buyers have to raise their prices again and again to encourage farmers to sell soybeans A Rosario businessman said soybean prices were strong, with exporters and processors scrambling to raise prices in order to get supplies This is the fundamental reason why the local trend of Argentina deviated from the trend of Chicago soybean in recent two days Soybean futures fell on the Chicago Board of trade on Thursday as weather expectations improved in the US soybean belt The peso exchange rate was flat The peso was trading at 3.61/3.63 to the US dollar in block trading, roughly the same as Wednesday It is also the Argentine Peso that has been stable at its current level for several consecutive days (author:) share to feed Weibo share to:
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