At 9h06 on March 18, 2020 (Vietnam time), soybean prices in the US increased by 1% as a $ 1 trillion stimulus package boosted the market, but the increase was limited by concerns. Global policy dynamics are not sufficient to counter the economic impact of the corona virus pandemic.
May soybean futures prices in Chicago increased by 1% to $ 8.33 / bushel, after increasing 0.3% in the previous session.
Corn price in May 2020 on Chicago floor unchanged at 3.44 USD / bushel, sometimes touching 3.42-1 / 4 USD / bushel – the lowest since June 2018. Closing the previous session, corn price decreased by 3%.
Wheat futures prices in May 5/20 on Chicago floor slightly changed at 4.99-1 / 2 USD / bushel, closing the previous session increased 0.6%.
Concerns about the economic impact of the virus put pressure on grain prices, while US export demand declined because the dollar rose sharply as companies and investors sought the most liquid currency in the market. instable school.
A strong dollar makes American goods more expensive in the global market.
The Trump administration on Tuesday (March 17, 2020) added a global effort to combat the pandemic, with a $ 1 trillion stimulus package that could provide a check worth $ 1,000. for Americans within 2 weeks.
The dollar rose against most major currencies on March 18, 2020, after rising US bond yields and concerns around corona virus.
Oil prices remained firm on March 18, 2020 after falling to a four-year low, on concern that fuel demand and the global economy will decline, amid tourism restrictions due to the corona virus pandemic. in some countries around the world.
The S&P 500 index increased by 6% on March 17, 2020, as the US Federal Reserve and the White House took further steps to increase liquidity and minimize the economic impact from the highly spreading corona virus.
Source: VITIC / Reuters
