Prices for soybeans, wheat and corn grew by the rumors about the resumption of trade between the US and China

2019-07-04 12:14:48
Machine translation
Prices for soybeans, wheat and corn grew by the rumors about the resumption of trade between the US and China

Yesterday, on the eve of the weekend on the occasion of US Independence Day, commodity exchanges have grown on the rumors about the resumption of trade between the US and China.

 

China plans to increase the purchase of agricultural products in the United States in the form of a step towards the resumption of negotiations for signing trade agreements. However, the specific commitments China does not, unless agreed controversial issues. The volume of procurement that China can offer US, could be less than those which were discussed at the negotiations at the end of last / beginning of this year.

 

In January, China proposed gradually over 6 years to increase the volume of purchases of goods in the US to 1 trillion dollars. Thus the negative balance of U.S. trade with China, which in 2018 was $ 323 billion $ to 2024 would be reduced to zero.

 

the July corn futures yesterday rose by 3.3% up to 170 $/ton, the September – to 171.6 $/t in December – up to 173,4 $/t

 

the July soybean futures rose 1.4% to 325 $/ton, the September – to 329,2 $/t, the November – to 333,6 $/t

 

After a previous fall to three-week low yesterday, the market for U.S. wheat has unfolded against the background of forecast precipitation in the Midwest, which can again delay the winter wheat harvest. Possible activation of the imports by China also supported prices.

 

the July wheat futures in the U.S.:

by 4.41 $/t to 160,20 $/t for solid winter HRW wheat in Kansas city

3.86 $/t to 198,60 $/t on a firm spring HRS wheat in Minneapolis.

  • by 5.33 $/t to 190,33 $/t for SRW soft winter-wheat in Chicago

Visitors’ comments (0):