02:15, 21.08.2009 — Новости
автор: OilWorld.Ru

DJ Argentina Soy Prices Dip On International Decline; Trade Muted (ENG)


BUENOS AIRES (Dow Jones)--Argentine soybean prices were down on the week at
the Rosario Grain Exchange on Thursday, following the steep losses in
international soy markets on Monday.

  While prices recovered partially later in the week, the rebound wasn't enough
to make up for Monday's dip.

  Spot soybeans were traded at ARS970 ($251.95) a metric ton in Rosario on
Thursday, down from ARS1,000 a week ago.

  March 2010 soy futures traded at $215 a ton, down from $226 a week ago.

  Soy trade volume continues to be low as farmers hold out for higher prices,
according to the exchange.

   Corn


  Spot corn was traded at ARS400 a ton Thursday. Spot corn wasn't traded last
Thursday.

  "Buyers withdrew from the market" Thursday, the exchange said.

  Corn trade also continues to be muted as the market awaits an export deal.

  Argentina is working on an agreement with exporters to open up corn and wheat
exports while ensuring adequate domestic supply, Cabinet Chief Anibal Fernandez
said earlier this month.

  However, little progress appears to have been made so far.

  Wheat and corn exports are tightly regulated to ensure local supply and
shield consumers from rising food prices. The government sets aside a
predetermined estimation of domestic demand and then only clears the surplus
for export.

  Exports of corn and wheat are likely to fall sharply next season due to a
steep drop in area planted with those grains.

   Wheat


  Wheat futures weren't traded Thursday. Spot wheat hasn't been traded since
mid-June.


  

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