World feed market on November 21, 2019: Soybeans increased from the lowest level in nearly 2 months

At 8:51 am on November 21, 2019 (Vietnam time), soybean prices in the US increased from a 2-month low in the previous session, but the increase was limited by a concern about a trade agreement between Washington and Beijing could take place next year.

Price of soybean futures in January 2020 on Chicago floor increased 0.1% to 9.06-1 / 4 USD / bushel. In the previous session, soybean prices fell 0.7% to $ 9.04 / bushel, the lowest since October 1, 2019.

The price of corn in December 2019 on Chicago floor fell 0.1% to US $ 3.66-1 / bushel, closing the previous session down 0.9% to US $ 3.65-3 / 4 / bushel, the lowest since September 18, 2019.

Wheat futures in December 2019 on the Chicago floor changed slightly at US $ 8.81-3 / 4 / bushel, closing the previous session up 1.3%.

Corn and soybeans came under pressure when US President Donald Trump warned that he would raise tariffs on Chinese imports if no deal was reached.

The completion of a “phase 1” trade deal could take place next year, in the context of Beijing's insistence on Washington's removal of tariffs on a large scale, and the administration of US President Donald Trump demanding asked that the Chinese did not want to respond.

A new round of talks between Washington and Beijing over US bills to support protesters in Hong Kong and warn China about human rights could raise fears of negotiations and delay the deal. Investors expect to be signed.

The JPY rose against the USD after the White House said that a US-China trade agreement is unlikely to occur this year, boosting the need for safe haven assets.

The key index of Wall Street stocks fell due to concerns that a “phase 1” trade agreement between Washington and Beijing could not be completed this year, while the minutes from the Reserve Policy meeting The US Federation in October 2019 seemed to have little support.

Source: VITIC / Reuters