World feed market December 31, 2019: US grain prices fell

At 9:33 am on December 31, 2019 (Vietnam time), the price of wheat and soybeans in the US decreased due to profit-taking activities after reaching a 1-year high in the previous session.

Grain prices rise after the South China Morning Post newspaper said China's Deputy Prime Minister Liu He will travel to Washington this week to sign a “phase 1” trade agreement, in which China agrees to import more. American agricultural products.

The White House trade adviser said the deal would be signed “within this week or next week.” China – the world's largest soybean consumer and the United States agreed to a “phase 1” trade deal in early December 2019, including Beijing's commitment to increasing purchases of agricultural products by America.

March 2017 wheat futures prices on the Chicago floor dropped 0.4% to $ 5.54 / bushel, after reaching the highest level since August 2018 on December 30, 2019. For the whole year, the wheat price increased by 10.1%, the 3rd consecutive year of increase.

The price of soybean futures in March 2020 on Chicago floor decreased 0.1% to 9.51-3 / 4 USD / bushel, after rising to the highest level since June 2018 in the previous session. Overall, soybean price rose 6.3% for the whole year, the first increase in 3 years.

Corn price of March 2020 on Chicago floor dropped by 0.3% to 3.87-1 / 4 USD / bushel, but for the whole year, corn price increased by 3.2%.

China has approved the importation of two genetically modified (GM) crops, which could boost purchases of agricultural products from the United States and extend import licenses for 10 other types, the Ministry of Agriculture said. Quoc said.

The General Department of Goods Supply Egypt (GASC) received the lowest bid of US $ 857,000 / ton for 10,500 tons of sunflower oil at an international bidding for vegetable oil.

The price of Russian wheat export increased for the 7th week in a row last week due to the high price of wheat on Chicago and Paris floors, the strong RUB and concern about the condition of Black Sea crops in 2020.

The dollar fell to a 3-week low against the JPY in a quiet session, as investors sought risky assets, led by a new optimism about global economic growth.

The key indexes of Wall Street stocks fell from a record high on Monday (December 30, 2019), as investors sold profit taking from gains earlier this month after the US and China. reach a trade deal.

Source: VITIC / Reuters