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Argentine soy price dragged down by CBOT losses

soya-beanBUENOS AIRES: Argentina's closing soy prices and trends on Thursday:

* Soy prices closed at 1,815 pesos ($368) per tonne from Wednesday's 1,830 pesos, reflecting losses in the benchmark Chicago futures market, traders said. Trade volume remained thin due to the low prices and dwindling old-crop supplies.

 

* US soybean prices fell for the third consecutive trading session, extending losses after China -- the world's biggest soy importer -- cancelled orders for US soy and on expectations for bumper crops in South America.

 

* Argentine soy planting progressed enough over the last week to catch up with the previous season's pace as floodwaters receded, Buenos Aires Grains Exchange said on Thursday.

 

* In Rosario, soy for delivery in May 2013, which is quoted in US dollars, did not trade for a second day.

 

* In the southern grains port of Bahia Blanca, the oilseed closed at 1,715 pesos per tonne.

 

Center>Copyright Reuters, 2013