The new escalation of trade relations between the United States and China puts pressure on the oilseed market

2019-08-27 12:29:30
Machine translation
The new escalation of trade relations between the United States and China puts pressure on the oilseed market

After the mutual increase of customs duties from China and the United States Friday quotes oil trading indices and quotes oilseeds to fall by 2-3 %, and Monday remained under pressure from uncertainty despite new statements of the President of the trump.

 

Futures for Brent crude oil fell on Friday by 3% to 58,27 per barrel, and on Monday started with active growth, but by the end of day have fallen to the same level.

 

U.S. stock indexes fell more than 2%, when China first announced the increase of duties on U.S. exports with a volume of $ 75 billion, and in a few hours, trump said that he will raise the existing duties on Chinese products by $ 250 billion from 25% to 30% from 1 October, and $ 300 billion from 10% to 15%.

 

the US President Donald trump said Monday that China has offered to resume trade negotiations. Speaking at the summit of leaders "the Big seven", trump told journalists that the representatives of China called the leading sales representatives of the United States "and said, let's get back to the negotiating table".

 

However, these statements have not reassured the major stock markets in Japan, China and Hong Kong, which on Monday traded in the red.

 

on Monday, Stock markets in Asia reacted to a sharp fall in the gain of a trade war between the United States of America (USA) and China.

 

soybean Futures on the Chicago exchange fell 1.8 percent on Friday, but Monday rebounded to the level of Friday and traded at the level of 317,25$/t, while prices for soybean oil fell again to end the session after a slight recovery on Monday to the level of 630$/t

 

Quotes rape on the stock exchange Euronext in Paris on Friday fell by 3/t, but on Monday rose 2.5 euros to Have 378,5/t, or 420,2 $/t

 

the Export of soybeans from the U.S. for the week was 17% less than a week ago and totaled 962 thousand tonnes, 6% more than a year ago.

 

Also, the Crop Tour with Pro Farmer showed the forecast reduction in soybean crop in the US in 2019 to 95 million tons, which is much lower than the August forecast from the USDA, but traders now do not look at forecast production and consumption forecasts and the possibility to sell stocks last year and the new crop in the absence of the Chinese market.

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