Market report - Oilseeds knocked by Chinese trade retaliation

[CRM AgriCommodities]

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Cereals

• Corn tracked soybeans lower today also impacted by Chinese import duties.
• Spring plantings in the US are hampered so far by cold conditions with little sign of a break soon. The plains remain arid to the detriment of winter wheat.
• Conditions for winter wheat in the US continue to deteriorate as the situation become more serious.
• US tariffs will not be implemented until May/June meaning that weather is still very much a pressing issue for both grains and oilseeds.
• It remains a market fuelled by weather issues and politics with the trade left having to weigh the impact of both.

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Oilseeds

• Soybeans bore the brunt of the ongoing trade tiff between China and the US as China placed import duties on US products including soybean, beef, planes & cars. prices fell sharply as a result of the Chinese retaliation to similar US duties.
• It is worth noting the reliance of China on both US and Brazilian soybeans when considering the extent of such duties (see chart of the day).

FOR MARKET OPINIONS, INDEPENDENT BUYER & SELLER STRATEGIES, OR TO FIND OUT MORE, GET IN TOUCH WITH US - [email protected]
World Soybean Overview

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Futures & Options prices

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