BUENOS AIRES: Argentina's closing soy prices and trends on Monday:
In the Rosario grains market, soy closed at $336 per tonne, up from $335 on Friday, tracking gains in Chicago.
Soybean futures on the Chicago Board of Trade hit a two-week high on worries about tight U.S. supplies and winter weather slowing grain movement, coupled with expanding dryness in Brazil, traders said.
In Rosario, soy for delivery in May traded at $285 to $289 per tonne compared with $283 on Friday.
Heavy rainfall in Argentina in recent days should boost the soy crop after a hot, dry start to the year, adding to the promise of a record harvest.
After a meeting with Argentina's agricultural lobby, senior government officials said they expected the sale of this year's soy harvest to proceed normally despite a sharp currency swing last month.
The government has been pressing farmers to export their soy, replenishing the central bank's foreign reserves, but trade has been slow as many farmers trust their beans to hold more value than the Argentine peso.
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