Agricultural commodities trade intricated by export issues and lockdown measures — Agritel
Prices dropped sharply on Friday, Apr. 24 in Chicago. The outlook of rainy weather in Europe has weakened the wheat. In the USA also, beneficial rains have been noted, Agritel reports.
"Most of agricultural commodities are penalized by logistic issues on exports due to lockdown measures in many countries. Heterogeneous demand is also weighing on prices," the report reads.
The corn remains under pressure due to the fall of the ethanol demand, analysts note. Plantings in the US are gaining momentum.
In soybean, the Chinese demand is back, but in lower proportions than planned. The competition with South American countries will be stiff.
Previously reported that the Ministry for Economic Development, Trade and Agriculture of Ukraine elaborated Annex 2 to the Memorandum of Understanding between the Economy Ministry and grain market participants proposing to limit export shipments of Ukrainian corn in 2019/20.