Markets

Argentine soy prices slump behind US futures

BUENOS AIRES : Argentine closing soy prices and trends on Monday: * Soy prices in Rosario sank as much as 3.3 perce

Published September 12, 2011 Updated September 12, 2011 10:15pm

1 min

By Abdul Ahad

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* Soy prices in Rosario sank as much as 3.3 percent to between 1,330 and 1,340 pesos per tonne ($300-$302) from 1,375 pesos in the previous session due to sharp losses in the benchmark Chicago futures market.

* Trade volume remained practically nil for the second consecutive day's trade.

* Soybean futures on the Chicago Board of Trade fell after the US Department of Agriculture surprised the market by raising its forecast of the US 2011 soybean yield in a monthly report, traders said.

* In Rosario, soybeans for May 2012 delivery, priced in US dollars, fell to between $325 and $327, down from at $328 on Friday.

* In the port of Quequen, the oilseed shed 43.8 pesos to end at 1,330 pesos per tonne.

Following is a list of grains and oilseed prices in Argentina's main ports. Values from the previous session are in parentheses. All figures listed are in pesos per tonne.

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