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Cereal prices fell Tuesday on the Chicago Stock Exchange, after severe criticism US President Donald Trump in China and a report on crop quality.
Markets fell shortly after Trump criticize Beijing when its emissaries resumed in Shanghai the dialogue to put an end to the tariff war between the powers, which put the world economy in suspense.
China is doing very badly, worst year out of 27 – was supposed to start buying our agricultural products now – nothing suggests the purchase. This is the problem of China, they just do not succeed. Our economy has become MUCH larger than the last three years in China ….
– Donald J. Trump (@realDonaldTrump) July 30, 2019
"My team is negotiating now, but they always change the agreement in the end for your benefitTrump tweeted about the giant Asian country.
"China is doing very badly, its worst year of the last 27 years in which it was supposed to start buying our agricultural products and there is no sign that they are doing it"he added.
..My team is negotiating with them now, but they always change the agreement to their advantage. They should probably wait until our election to see if we would have any of the Democratic supporters like Sleepy Joe. Then they could make a great deal, as in the last 30 years, and continue
– Donald J. Trump (@realDonaldTrump) July 30, 2019
The market expects China to sign a major purchase of US soybeans (about three million tonnes), but "after a few comments from Trump, enthusiasm has diminished a bit," said Dewey Strickler. , from Ag Watch Market Advisors.
In addition, unlike the agricultural market, an official report on American cultures showed improved prospects for corn harvestwhile those of soybeans remained stable.
"A deterioration was expected and, therefore, these investors disappointed," Strickler said. The bushel (25 kilos) of corn for December yielded $ 4,200 against 4,2700 Monday (-0.41%); the bushel of wheat for September ended at 4.9725 USD against 5.035 the previous day (-1.24%); and the bushel of soybeans for November fell to $ 8.9675 from 9.0425 Monday (-0.83%).
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