Prices for soybeans rise on news from US
In the administration of the President of the United States are studying the issue of providing financial compensation to farmers who suffered as a result of long-standing trade war with China, - reports The Washington Post.
assistance in the amount of $ 12 billion will be the answer to numerous complaints of American farmers on the damages caused as a result of the introduction by China of import duties on certain types of agricultural products made in the USA.
funds Allocated to the USDA to distribute in the form of direct financial compensation to farmers, and by the programme of assistance in the implementation of agricultural products and promote trade.
the Allocation of such assistance does not require consultation with Congress, as it will be carried out through the commodity credit Corporation of the United States.
On the news, soybean futures rose to $320/t
Earlier, the Chinese government decided to provide business tax credits of 65 billion yuan ($10 billion) in the form of support for the damages from trade war and global economic uncertainty.