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After five consecutive declines, soybeans rebounded sharply on Friday, gaining 3.3% to 317.29 per tonne after troughs in nearly a decade in the Chicago market. In turn, corn increased by 0.9% to US $ 136.41, while wheat subtracted 0.2% to US $ 184.82.
On Thursday, oilseeds fell 1% to $ 307, their lowest value since December 2008 Corn increased 0.2% and wheat increased 2.5% .
] Soy futures fell again yesterday because traders were expecting an increase in import tariffs from China, the world's largest oil buyer.
On the other hand, wheat has risen sharply due to a decline in world stocks and adverse weather conditions in grain-producing countries – such as France and Germany – which led to reduced crop forecasts in these places.
The widespread expectations that the United States and China introduced import tariffs at midnight on Friday, put pressure on the soybean market and limited corn prices.
The private firm Informa Economics has raised its yield forecasts for soybean and corn in the United States, a downward factor that has also put pressure on prices
. , 75 cents, at $ 8.3925 a bushel, in its fifth consecutive daily decline.
"If China hits soybeans hard (with tariffs), the prices we will see will be new minimums, and I would not be surprised to see some contracts start at 7", said badyst Tom Fritz EFG Group. "If China does not hit soy, then there could be a limited increase," he added.
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