Cancel trump new duties supported the price of soybeans and corn

President, trump reported the postponement of the duties on the Chinese goods and the successful promotion of trade talks between the US and China, in which the parties have resolved the issues of agriculture, services and currency, intellectual property protection, technology transfer, and announced a meeting with Chinese President XI Jinping, where he will sign a long-awaited agreement.

the background of this news on the U.S. stock exchanges, the price of soybeans increased by 1% to 341,7 $/ton, corn – 152,1 up to $/t

In Friday's report, USDA forecasted balance sheets for wheat and maize in 2019 correspond to market expectations, while the levels of production and stocks of soybeans have surprised the experts.

So, due to the reduction of soybean yield with the predicted earlier by analysts of 50.5 bushels/acre 49.5 bushels/acre, the forecast of oil production in the US in 2019 was reduced to an increase of 113.6 million tonnes, which is 8% lower than the level in 2018 and does not match expert expectations, which are at the level of 117,57 million tons.

the forecast of soybean exports in the SGA increased to 55 million tonnes, which is 8% higher than expert expectations 51,03 million tonnes According to the USDA report on export sales in the period 10 January to 14 February, the U.S. implemented the export 6.5 million tons of soybeans, or 1,089 million tonnes every week, double the figure of the corresponding period of last year, but below expectations of traders.

Due to a sharp increase in sowing areas of maize production estimate of grain in the United States in 2019 increased to 378,2 million tonnes compared to 366,5 million tons in the current season. The signing of a trade agreement between the US and China can still change the structure of sowing areas of soybeans and corn.