December 18, 2009

Argentina soy ends up but tracks CBOT losses later in week

Argentine soy prices tracked movements at the Chicago Board of Trade over the last week, making gains and then giving back some of that ground.

"Local [soy] prices weren't exempt from the bearish pressure in the overseas reference market," the Rosario Grain Exchange said.

Soy prices in Chicago fell amid profit taking and a widespread commodities selloff.

Spot soy traded at ARS980 ($258) a ton in Rosario Thursday, up from ARS950 a week ago.

May 2010 soy futures traded at $235 and $236 a metric ton in Rosario Thursday, compared with US$234 and US$235 a week ago.

Neither corn nor wheat was traded on Thursday.