The US Secretary of the Treasury, Scott Bessent, declared that the Asian giant will resume “large” imports of the oilseed with his country.
Soybeans rose strongly and touched US$400 per ton due to the new trade rapprochement between the US and Chinaand then the US Secretary of the Treasury, Scott Bessentwill ensure that the Asian giant will resume “substantial purchases” imports of the oilseed with your country.
News of a new trade agreement between the two economic powers drove improvements in grain prices in the Chicago marketled by soybeans, which rose more than US$9 to US$392.14 in the November position, according to Agrofy.
It happened after the Chinese Foreign Minister, Wang Yihad a positive telephone conversation with the US Secretary of State, Marco Rubio. At the local level, soybeans remained at $480,000 on the trading board. Rosary.
dollar soybeans withholdings
Corn and wheat prices advance due to improved expectations
In turn, corn advanced more than US$2 to US$168.79 compared to the negotiations between Washington and Beijing, that could reactivate the demand for biofuels and fodder. Meanwhile, wheat rose almost US$5 to US$193.27.
Next October 30, donald trump and Xi Jinping will hold a meeting in South Koreawhich will be key to bringing the interests of both nations closer together.
On November 1, the 25% tariff imposed by the US on all imported medium and heavy trucks will become effective. If no agreement is reached between the parties, additional 100% tariffs on Chinese exports will come into effect, with additional export controls on critical software.
Finally, On January 1 of next year, tariffs will increase to 30% for upholstered furniture and 50% for cabinets and dressers that come from countries without a trade agreement with the US.
Source: Ambito
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