Progress in relations between the US and China supported prices for soybeans and corn

2020-05-08 12:00:45
Machine translation
Progress in relations between the US and China supported prices for soybeans and corn

After the threat of the President of trump to cancel the first transaction, China has stepped up purchases of us agricultural products, making the prices of soy and corn rose yesterday by 1.5-1.9 percent, although traders do not believe in a rapid recovery of exports after years of protracted trade disputes.

 

on Thursday it became known that the Chinese state Corporation acquired another 4 vessels of soybeans from the U.S. for delivery in August and September, making net purchases of the last two weeks increased up to 1.5 mln t. in addition, this week China has purchased 686 thousand tons of maize, of which 371 thousand tons of old crop and 315 thousand t – new.

 

in Recent months, China bought Brazilian soy which is better and cheaper than the us, and has already secured 90% of deliveries in may-August, before the start of the new season in the United States. For this President, trump accused him of ignoring agreements on the purchase of American agricultural products.

 

This week's talks were held between U.S. and China on the implementation of the first phase of the agreement on which it was decided that the United States temporarily, until August 7, 2020, inclusive, cancels duties on 146 Chinese goods, and China will honor its purchase obligations.

 

in the decision, the US government granted the requests of some American companies on the exclusion of individual items from the list of Chinese goods in the amount of $ 200 billion, and took into account other factors, such as the ability to purchase these goods only from Chinese manufacturers.

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