Stock prices for major crops grow in spite of the postponement of talks between the US and China

2020-08-17 12:17:38
Machine translation
Stock prices for major crops grow in spite of the postponement of talks between the US and China

Last week, the markets of agricultural crops in the United States expected the two events, which could significantly change price trends: the August USDA report and the next round of trade negotiations between the US and China.

 

In this bearish report of increased production forecasts for soybeans and corn markets responded by raising their quotes and information on the prolongation of the negotiations with China.

 

video conference on trade agreement between the US and China, which was to be held August 15, was postponed indefinitely because the representatives of the PRC have a busy schedule through the conference of the Communist party of China. The talks were expected to attend U.S. trade representative Robert Lithur, the Minister of Finance of the USA Stephen Mnuchin and Vice-Premier of China Liu he.

 

Earlier, US officials have said they believe the pace of purchases by China of goods within a trade transaction satisfactory and do not plan to cancel the transaction. China on the contrary interested in prolonging the negotiations and reduction in the purchase amount because it is attempting to reduce support trump on the part of farmers, especially amid increasing political pressure in recent weeks.

 

tension between the two countries has intensified after allegations trump China in the spread of the pandemic coronavirus and the imposition of the Hong Kong law on national security. In addition, trump has threatened to ban the Chinese application WeChat through a TikTok and a threat to national security, and Secretary of state Mike Pompeo recently reported that such bans can be imposed on other Chinese companies.

 

Futures on corn, soybeans and wheat after the publication of the USDA report was growing up, but on Friday declined slightly, and the output in electronic trading has increased again to 0.9-1% in spite of the transfer of trade negotiations and the possible reduction in exports to China in the event of further escalating tensions between the two countries.

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