GRAINS-Soybeans slip from 6-1/2-year high as Argentina strike ends
(Updates with latest prices) SHANGHAI/PARIS, Dec 30 (Reuters) - Chicago soybean prices on Wednesday slid from a 6-1/2-year high hit in the previous session as Argentine soy crushers signed a deal with oilseed workers to end a strike that had pushed up prices. The most active soybean contract on the Chicago Board of Trade (CBOT) slid 0.7% to $12.87-1/2 a bushel at around 1100 GMT. On Tuesday the market had hit $12.99-1/2, its highest since June 2014. Wheat was down 0.4% at $6.16-1/4 a bushel. Corn on a 12-day winning streak, slipping 0.6% to $4.63-1/4 a bushel. On Tuesday it had risen to $4.67-1/4, its highest since June 2014. Argentina's soy crushing companies signed a contract with the country's oilseed workers' unions late on Tuesday, ending a 20-day strike over wages that had paralysed exports from the world's top supplier of soymeal livestock feed. The deal, following more than 10 hours of negotiations, includes a two-part 25% increase in salaries from January to August. Increases for the rest of the year are to be determined by the inflation rate, Argentina's CIARA soy crushing chamber said in a statement. The labour strike by the oilseed workers and grain inspectors had idled Argentina's ports, backing up more than 140 export ships. Commodity funds were net buyers of Chicago Board of Trade corn, wheat, soybean, soymeal and soyoil futures contracts on Tuesday, traders said. Prices at 1107 GMT Last Change Pct End Ytd Move 2019 Pct Move CBOT wheat 616.25 -2.25 -0.36 558.75 10.29 CBOT corn 463.25 -2.75 -0.59 387.75 19.47 CBOT soy 1287.50 -8.50 -0.66 955.50 34.75 Paris wheat Dec 211.25 -0.75 -0.35 188.25 12.22 Paris maize Nov 205.00 4.25 2.12 174.75 17.31 Paris rape Nov 417.00 -1.00 -0.24 391.50 6.51 WTI crude oil 48.36 0.36 0.75 61.06 -20.80 Euro/dlr 1.23 0.00 0.23 1.1210 9.50 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne (Reporting by Emily Chow and Sybille de La Hamaide; Editing by Vinay Dwivedi and Jason Neely)
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