Argentina soybean follows Chicago soybean price
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Last Update: 2008-11-03
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Source: Internet
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Author: User
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Introduction: Argentina's soybean spot price closed sharply higher on Tuesday, mainly because Chicago's soybean futures market hit a five-month high In Rosario, the main export port, spot soybean prices were 460 pesos / ton, up 15 pesos from Monday Volume was 25000 tonnes, up from 14000 tonnes on Monday Monday is president's day in the United States, and the Chicago Board of trade resumed trading on Tuesday, with commodity funds making a lot of money, supported by the favorable weather in southwest Pakistan and the depreciation of the U.S dollar In the San Martin area, soybean prices for 2004 / 05, which were delivered in May, were $153 per ton, up $5 from the previous trading day Trading volume surged to 60000 tons, which is also the recent daily volume level, nearly 10 times higher than that of the previous trading day At present, soybean planting in Argentina is basically over, and the Ministry of agriculture of Argentina currently predicts that soybean production will be between 36 million tons and 38 million tons The USDA forecast is 39 million tons
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