US soybean price rise (12.14)
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Last Update: 2003-03-12
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Source: Internet
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Author: User
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OA show ('918 '); US soybean futures prices rose and fell at the close of trading last week Soybean futures closed higher on the news that China's demand will drive exports, but expectations of strong export sales also boosted the market The trend continued, and as many brokers were ordered to sell, spot contracts were pulled below $5 a bushel Soybean futures rose $2.30 to $186.29 in January, $2.39 to $189.14 in March, and $1.84 to $191.16 in May Soybean meal futures fell $1.54 to $208.00 in December, fell $0.11 to $206.35 in January, and rose $1.10 to $204.04 in March Soybean oil futures rose $2.87 to $328.71 in December, rose $4.41 to $334.44 in January, and rose $4.85 to $343.48 in March With market demand still an important factor in the short term, new supply in South America may become a price determining factor in the long term The potential big harvests in Argentina and Brazil will have a strong restraining effect on the market, especially when the harvest is timely and the exchange rate is close to the current level.
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