Argentine soy hit by 4th straight day of Chicago losses

BUENOS AIRES: Argentina's closing soy prices and trends on Friday:

In the main grain market of Rosario, soy closed at 1,640 pesos ($322) per tonne compared with 1,670 pesos per tonne on Thursday. A fourth straight day of losses in the benchmark Chicago market set the tone for the session.

Soybean futures on the Chicago Board of Trade fell for a fourth session on Friday as disappointing US soybean crush data combined with pressure from the expanding South American harvest, traders said.

Rosario soy for delivery in May, which is quoted in US dollars, closed stable at $325 per tonne.

Argentina should produce 51 million to 52 million tonnes of soybeans in 2012/13 and 27 million tonnes of corn, Agriculture Minister Norberto Yauhar told Reuters on Friday, forecasting an output increase from the previous season.

<Center><b><i>Copyright Reuters, 2013</b></i><br></center>