The lack of results in talks between the US and China have fallen off the price of soybeans

2019-08-01 12:49:56
Machine translation
The lack of results in talks between the US and China have fallen off the price of soybeans

Hope for the revitalization of China's purchases of agricultural products from the United States after the resumption of trade negotiations between the two countries once again failed to materialize, then the price of soybeans fell to a low of 2 months.

 

Progress in the negotiations was not, finished ahead of schedule, but agreed to continue in early September in Washington. The United States insists that China has stepped up purchases of U.S. soybeans prior to the signing of the agreement.

 

the Chinese state news Agency Xinhua reported that the talks were "Frank, constructive and effective" and considered the issue of increase China's purchases of agricultural products from the United States.

 

the September soybean futures since the beginning of the week fell by 2.8% to 318,9 $/t, the November – to 323,4 $/t

 

In the next 7-10 days, weather conditions in the Midwest United States with moderate rainfall and low temperatures will improve the condition of the crops through the late sowing is lagging in development and are in the flowering stage.

 

However, the lack of precipitation may reduce the yield of soybeans as the root system is poorly developed plants will get moisture from deep soil layers, which can adversely affect the filling of beans.

 

As of July 28, in the United States in the phase formation of the pods are 21% of soybean crops, whereas a year ago the figure was 58%, and the average over 5 years – 45%.