Due to passage with China, soybeans reach a minimum level in almost 10 years

Soybean futures fell to new lows on the Chicago market on Friday and the most active contract closed to its lowest level in nearly a decade after a US government report United that has reinforced fears that the trade dispute with China will decrease exports and cause an increase in stocks.

The future of maize accompanied the fall of soybeans, also under pressure by the forecasts of a favorable climate in much of the agricultural region of the central United States

Wheat [19659006] on the other hand, increased for the second consecutive day due to the fall in cereal production in the European Union and the Black Sea region, concerns about the level of world stocks increased

The Chinese Factor

Trade tensions between the United States and China continued to weigh on soybeans a day after The Ministry of Agriculture cut 250 million bushels its export forecast for the 2018-2019 season and predicts that final inventories will be the largest since the registration.

China increased tariffs on US soybeans a week ago in retaliation for US tariffs imposed on Chinese products

Movements in China to other soybean suppliers, with increased Oilseed production in Brazil can limit the long-term demand for US soybeans from the world's largest buyer.

Price

Soybeans for August fell to $ 300.83 per tonne, a drop of 6.7 per tonne. Percentage in the week and sixth weekly decline in seven weeks.

The contract until November fell to $ 306.52, the lowest for the most active contract since December 2008.

The corn for September fell to $ 134 per ton , losing 5.3% in the week. The December contract fell 4.5 cents to $ 139.66

Wheat prices rose after the Department of Agriculture increased forecasts of US grain exports and lowered wheat prices. crop projections in Russia and in the EU.
Wheat for September in Chicago rose to $ 182.6 per ton, but for the week it dropped 3.5%.