MARKET DEVELOPMENT
MARKET TALK: Brazil Soy Rust Potentially Positive
MARKET TALK: Brazil Soy Rust Potentially Positive
16/12/04 (Dow Jones)--Spread of Asian soybean rust in Brazil potentiallypositive for soy complex prices, which would be indirectly favorable forpalm oil prices, palm oil traders say. Agriculture Ministry crop agencyEmbrapa reports rust fungus found in Sao Paulo, the sixth state wheredisease discovered this season. No estimates yet on damage caused by rust,if any. Rust cut yields by 10% last year; a repeat this season likely toaffect soybean output, would be friendly for overall global oils andoilseeds market.