August 3, 2007

  

Argentina's grains up on week on CBOT over strong demand for exports, crusher

 

 

Argentina's grain prices were up Thursday (August 2) on the week at the Rosario Grain Exchange on gains at the Chicago Board of Trade and strong demand from exporters and local processors, according to analysts.

  

Gains in international soy prices and solid demand from buyers drove up local soy prices, the Rosario Grain Exchange said.

 

Spot soy closed at ARS650 (US$207) a tonne, up from ARS635 a week ago. Spot volume totalled 60,000 tonnes.

 

May 2008 soy traded at US$220 a tonne, up from US$214 last Thursday. Futures trade volume reached 25,000 tonnes.

   

Strong demand from exporters pushed up local corn prices, according to the exchange.

 

Spot corn was traded at ARS360 a tonne, up from ARS355 a week ago. Spot volume reached 10,000 tonnes.

 

April 2008 corn sold at US$115 a tonne, up from US$112 last Thursday.

 

Local millers paid ARS465 for spot wheat in Thursday, up from ARS460 a week ago. Some 2,000 tonnes traded hands.

 

Gains at the CBOT and demand from domestic millers pushed up spot wheat prices, the exchange said.

 

January 2008 wheat closed at US$170 a tonne, unchanged from a week ago. New-crop trade volume totalled 15,000 tonnes.