The price of soybeans soared 4.7% after the Declaration of the trump

Yesterday, soybean futures in Chicago rose by 4.7% to 328,56 $/t after the message trump on Twitter about held a long conversation with the President of China, XI Cinna, where among other things discussed the issues of mutual trade and agreed to continue negotiations at the meeting of G-20 Argentina.

Growth limited the increase in oil prices and export sales came in below traders ‘ expectations.

the traders and manufacturers of soybean more than 4 months awaiting resolution of trade disputes with China and a recovery in soybean exports in that direction. So any news on progress in the negotiations is raising the price of soy, which after the introduction in the early summer of import duties fell by 25%.

Regardless of peer expectations in the range of 700-750 thousand tons were export sales of soybeans from the U.S. last week amounted to only 395 thousand tons, which is 76% lower than in the corresponding week of last year.

news about the possible disputes between the US and China has increased sales of soybeans of the new crop in Brazil, as traders fear a decline in demand and, as a consequence, premiums for Brazilian soy. today 80-100 $ more expensive than the us.

Thanks to the good rainfall and sowing rate Brazil will be able to collect 121-122 million tons of soybeans against 119,8 mln t last season.

In China after news about the possible resumption of imports of soybeans from the United States January futures for soybean meal on the stock exchange Dalian fell 6.1% to 467 $/t

In Ukraine on the soybean market continues to stagnate. Amid a significant supply and lack of demand from exporters, processors lowered prices by 200-300 UAH/t and now delivered to the plant offer 9800-10200 UAH/t Exporters in the port lowered the price to 315-320 $/t

https://graintrade.com.ua