The signing of the interim agreement between the United States and China supported prices for soybeans and corn

2019-10-15 12:11:19
Machine translation
The signing of the interim agreement between the United States and China supported prices for soybeans and corn

on Friday, the U.S. and China concluded an interim agreement, which will be an important step for the settlement of trade disputes. Beijing will increase the purchase of agricultural products in the US $ 40-50 billion, and Washington will not increase from 25% to 30% duties on Chinese goods worth $ 250 billion.

 

the decision on the scheduled for December 15, increase duties on Chinese goods worth 160 billion $ has not been considered, as the issue with regard to Chinese technology company Huawei.

 

This step is considered an important stage of preparation of negotiations between trump and the President of China XI Jinping, which will be finally adopted, signed on Friday a new agreement. Trump is now necessary to support farmers who have suffered from China's refusal of purchases of agricultural products from the United States. And the reduction in tariffs on Chinese goods will revive exports and slow the fall in the rate of development of economy of China.

 

On this news on Friday, corn prices recovered somewhat after the previous drop due to the publication of the report.

 

Through the output for state institutions Monday in the United States reports on the collection and export has not released, therefore, the December corn futures remained at 155,7 $/t and for November soybeans at the level of 344,5 $/t

 

at the end of the week of cold weather in parts of the Great plains and the Midwest have increased the threat of damage to the crops of soybeans and corn that have not yet matured. The improvement in the weather next week will accelerate the harvest.

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