Argentina soy prices get a lift from CBOT

Friday, 27 January 2012 04:28

BUENOS AIRES: Argentina's closing soy prices and trends on Thursday:

* Soy prices in Rosario closed up at between 1,335 and 1,370 pesos per tonne ($308-$316) compared with 1,320/1,370 pesos in the previous session due to gains in the influential US futures market in Chicago, traders said.

* Volume swelled to a modest 10,000 tonnes, up from about 4,000 tonnes on Wednesday.

* Chicago Board of Trade soybean futures closed higher on a weaker dollar after the US Federal Reserve decided to leave interest rates near zero for at least a couple more years.

* In Rosario, soybeans for May delivery, priced in US dollars, closed at $300 per tonne from between $290 and $297 per tonne a day earlier.

* A grains ship that has been delaying boats around the Rosario port area has not been completely dislodged and river traffic is still experiencing delays, an industry group said.

* In the southern port of Bahia Blanca soy closed at 1,100 pesos per tonne.

* Argentina's soy and corn harvests will be smaller this season than in the previous crop year, the Buenos Aires Grains Exchange said on Thursday, underlining concerns that recent dry weather might crimp world food supplies.