Data on the trade agreement between the US and China supported prices for soybeans and corn
OprahLuganda detailed terms of the first part of the trade deal between the US and China supported stock prices for soybean and corn.
Today at the White House President J. trump and Vice-Premier of China Liu he plans to sign the first transaction which provides for the reform of the economic and trade regime of China in the field of intellectual property, technology transfer, financial services and agriculture. Moreover, China committed for two years to purchase additional goods amerikanskih 80 billion $, in particular 50 billion $ - energy and 33 billion dollars in the agricultural sector. China will allocate 35 billion $ to purchase services from American companies.
While the United States retain the existing duties on Chinese goods until the next election of the President of the United States, and further steps to reduce the duties will depend on the implementation by China of the conditions of the first phase of the agreement. But both parties understand that the reduction of duties may not be earlier than 10 months after signing a trade agreement.
soybean Futures and corn yesterday started the session with the growth, however, after the publication of data on the anticipated volume of purchases by China of American agricultural products declined to the original level.
the increased purchases by China of new crop soybeans from Brazil crossed good performance of exports of soybeans from the United States, who last week rose 10% to 1.14 million tons, including to China, 17% to 412,6 kt Only exported in the season of 22.96 million tonnes of soy, which is 24.7% higher than the corresponding figure of the previous MG.
China in December increased compared to December 2018, imports of soybeans doubled, to 9.54 million tonnes, which exceeded the expectations of experts. Only 2019 were imported 88,58 million tons of soybeans, up 7 million tons lower than in 2017.