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US soy above $10, at 3-month high on weather woes

Posted on 07 January 2009

From Guardian: U.S. soy soared to a three-month high above $10 a bushel on Tuesday with the market lifted by weather worries in South America and continued strong demand for soy, especially from China.

“There’s a lot of dryness that extends from Buenos Aires to Santa Fe, Argentina, northeastward into west-central Rio Grande do Sul. That is a significant growing area in Argentina and an important bean area in Rio Grande do Sul,” said Mike Palmerino, forecaster for DTN Meteorlogix weather….. Full Article: Source


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