Continuing US-China trade war sent soybean prices down

On August 27th, soybean prices registered a new decline in a still complicated context between China and the USA. In addition, the US crop ratings of this week showed an increase of 2 points on this product compared to last week, Agritel reports.

The agency informs that corn and wheat prices evolved little. The market is consolidating on current levels with therefore less volatility.

"The maturity of the corn crops is late compared to previous years, the consequence of the late sowing, which could give rise to fear of frost risks in case of early winter. In fact, only 38% of the corn is in the Kernel dent stage, compared with an average of 65% at this time of the year," the message says.

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Earlier it was reported that by August 25th 79% of soybeans in the US fields started setting pods vs. 94% last year.