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December 4, 2009

 

Argentina grains track CBOT swings; corn volume heavy

 

 

Argentine grain prices tracked volatility at the Chicago Board of Trade over the past week, with spot soy easing and futures settling at the same point they started at last Thursday (December 3).

 

Spot soy were traded at ARS1000 (US$263) a tonne at the Rosario Grain Exchange Thursday, down from ARS1010 a week ago.

 

Spot soy trade volume was light on Thursday. Just 1,000 tonnes changed hands as farmers held out for a better deal, the Rosario exchange said.

 

May 2010 soy futures traded at US$238 and US$240 a tonne in Rosario Thursday, unchanged from a week ago. Future volume was also weak, with just 2,000 tonnes sold.

 

Corn futures weren't traded Thursday, but spot contracts changed hands at ARS489 per tonne with strong buying from exporters. Trade was brisk on Thursday, with volume estimated by the exchange at about 85,000 tonnes.

 

Wheat trade was muted Thursday, with just one local miller buying February wheat with a minimum gluten content of 26 for US$158 per tonne.  
   

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