Business news in brief

Soybean futures soared 14 per cent last week on expectations that strong US demand will outpace lean inventories, which are expected to fall to a 20-year low by the end of August. A dockers' strike in the Brazilian port of Paranagua, which accounts for the bulk of shipments from the world's second largest soybean producer, also drove the price up on worries about supplies.

The price of orange juice was also affected by the Brazilian strike. The price of the futures jumped 10.9 per cent on concern that exports from Brazil would fall.

Live Pigs fell 5.7 per cent in the week. Concern is building that an abundant supply of cheap beef in the US is hurting demand for pork at a time of rising pig slaughter rates. A threatened strike at a pig-packing plant in Minnesota could happen this week, reducing demand for animals. Copyright: IOS & Bloomberg

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