Argentine soya prices closed slightly lower on Friday, pressured by losses in Chicago's short-term futures, and trade was negligible for a third straight session, traders said.
Buyers offered 481 pesos ($162) per tonne in the main exporting port of Rosario, down from 485.5 pesos on Thursday. The last time the oilseed fell below 480 pesos per tonne was in August 2003.
"Buyers preferred not to buy anything, betting that people will get used to these prices and start selling next week," a Rosario trader said.
Local prices have fallen precipitously on favourable US weather conditions, the trader said, but they are unlikely to go below 450 or 455 pesos per tonne.
If the climate were to worsen, local prices could shoot up to 600 pesos per tonne within a few sessions, he added.
Soy prices surged past 715 pesos per tonne in January, but they have since backtracked some 30 percent.
Soybeans lost 15 pesos to close at 480 pesos per tonne in Bahia Blanca.
In Quequen, soya ended 10 to 15 pesos lower at 440/445 pesos.
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