July 28, 2006

 

Argentina cash soy, corn prices mostly unchanged in light trade

 

 

Argentina's cash corn and soy prices closed largely unchanged from the previous week in relatively light-volume trading.

 

Cash soybeans sold for ARS515/tonne, unchanged from a week ago.

 

Some 2,000 tonnes of soybeans were traded Thursday in Rosario.

 

Exporters offered US$173/tonne for soy futures with delivery in May 2007, down from US$174 on the week.

 

The USDA has forecast Argentina's 2005/06 soybean crop at a record 41.3 million tonnes while the Agriculture Secretariat sees output at 40.2 million tonnes.

 

The Buenos Aires Exchange put 2005/06 soybean production at 40.75 million tonnes.

 

By Jul 25, Argentina had sold 5.445 million tonnes of 2005/06 soybeans and 1.485 million tonnes of 2006/07 beans.

 

 

Corn

 

Cash corn sold for ARS265/tonne Thursday in Rosario, unchanged from a week ago.

 

Corn futures for delivery in Mar 2007 sold for US$86/tonne, up from US$84 on the week.

 

The USDA has forecast Argentina's new corn harvest at 14.5 million tonnes.

 

The Secretariat sees it at 14 million tonnes.

 

As of Jul 21, Argentina had sold 6.3 million tonnes of 2005/06 corn, compared with 9.205 million tonnes of 2004/05 corn.