MARKET DEVELOPMENT
MARKET TALK: Bearish '05 Soy Outlook To Affect CPO
MARKET TALK: Bearish '05 Soy Outlook To Affect CPO
16/12/04 (Dow Jones)--Bearish outlook for soybean prices negative forother global oils and oilseeds, including palm oil, traders say. USsoybean prices unlikely to reach $6.00/bushel next year due to abundantsupply, says Jim Smitherman, president of Harvest Trading Group; addsfront-month soybean contract on CBOT could even be in $4.50-$4.75 range by2005 spring planting (January soybean last traded at $5.46).