Prices for US ag products regress as China fails to comply with the trade agreement
A continued decline in prices was registered yesterday in Chicago, particularly in wheat, Agritel informs.
"Chinese purchases, already low despite the January 15 agreement, could be lower than expected due to the coronavirus crisis.
According to the report the funds which were long in wheat, liquidate positions in a context also of promising harvest for the moment on the Black Sea basin.
On January 29, funds were net sellers yesterday for 7,000 lots of corn, 4,000 lots of soybeans and 5,000 lots of wheat.
"Ethanol production was down this week, with weekly stocks rising and margins falling for producers," the consultancy adds.
As a reminder, the Minister for Development of Economy, Trade and Agriculture of Ukraine Tymofiy Mylovanov announced that the influence of the Chinese coronavirus (2019-nCoV) on the Ukrainian economy would be at its minimum.