Prices for soybeans and corn are again under pressure from political tensions

2019-10-07 12:27:39
Machine translation
Prices for soybeans and corn are again under pressure from political tensions

the Possible disruption of trade negotiations and the uncertainty of the measures to support manolovo industry will be the main pressures on the prices of soybeans and corn in the United States before the promulgation of the October report USDA.

 

ahead of a meeting of the delegations of the United States and China, which will be held on Thursday, the official Beijing said that he reluctantly agrees to a wide bargain. The meetings of the past two weeks, Chinese officials said that would significantly narrow the list of questions for discussion.

 

Vice-Premier of China Liu he, who will lead the Chinese delegation at the talks, said that he will give Washington a proposal in which there will be commitments to reform the industrial policy of China or a government subsidy that was a main demand of the United States.

 

China could derail the talks in anticipation of a weakening of the trump on a possible impeachment that will force it to accept Chinese conditions. On the background of the failure of negotiations with North Korea Trump any victory.

 

the government-Announced trump's program of sharp increase of ethanol in fuel have not yet demonstrated any real steps, so traders do not understand how to increase corn milling manolovo industry, which now consumes 40% of the harvest of U.S. corn.

 

the December corn futures in Chicago fell to shall be 152.3 $/t

 

the Agency IEG Vantage (formerly Informa) reduced in comparison with the previous report forecast corn yields in the United States by 2.1 bushels/acre up to 167,5 bushels/acre, down 0.7 bushel/acre inferior to the September forecast USDA. And estimation of soybean yield decreased by 1.9 bushels/acre to 46.5 bushels/acre, up 1.4 bushels/acre inferior to the September forecast USDA.

 

the November soybean futures for the week rose by 4% to 337 $/t, against the background of increased purchases of U.S. soybeans by China, which in two weeks have gained 2 million tonnes of the oilseed. Traders expect in the new report USDA the forecast of soybean production in the United States again declined.

 

By 10 October, when it released a new report USDA markets will remain under pressure of the uncertainty of volumes of production and consumption.

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