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US markets retreated on all products — Agritel
28 April 2020, 11:47
US markets retreated yesterday Apr. 27 on all products. Corn prices lost ground in the context of the ethanol crisis and favourable conditions for plantings in the US Corn Belt, Agtitel writes.
For the wheat, the subdued demand with a crisis in the poultry industry is weakening prices.
"Crop conditions have deteriorated from last week with 54% of crops considered as good to excellent vs. 57% last week," the report reads.
The soybean has been spared by the selloff, Agritel informs, the export activity is resuming toward China and some delays in Brazil harvesting have been recorded due to the rain.
Yesterday, funds were net sellers in 20 000 lots of corn, 4 000 lots of soybean and 4 500 lots of wheat, analysts say.
As a reminder, Saudi Arabia’s state grain buyer SAGO on Monday said it bought 60 thou. t of Ukraine wheat from SALIC.