Wednesday , December 2 2020

The grain – soy disintegrates because of the extinction of US exports of Agricultural Goods



                * Wheat, as tensions between Russia and Ukraine could jeopardize exports
* The sale of wheat to the US in Egypt adds support
* Corn follows soybeans down

(Revises, updates prices, adds quotes, changes on line, changes
date from the previous SINGAPORE / PARIS)
By Julie Ingersen
The US soybean futures fell further
from 2%, and came close to the four-week low Monday based on graphics
sells and worries about export prospects for US stocks
during a trade war with China, the traders said.
Corn futures follow lower soybeans. But wheat futures rose
because of the fears that Russian-Ukrainian tension could block the grain
export from the Black Sea
From 12:31 am CST (1831 GMT), Chicago Trading Council
January soybean futures declined by 22-1 / 2 cents
$ 8.58-1 / 2 of a bushel after dipping to $ 8.57, the deal is
lowest since November 1.
CBOT December Corn fell 3-1 / 4 cents to $ 3.55-3 / 4 a
busted after hit $ 3.55-1 / 4, its lowest since September 28, until
December wheat is up to 7 cents at $ 5.06-3 / 4 bushel.
Sale of soybeans accelerated as an indicator for January
The contract fell below the support of the chart in its 50-day move
an average of $ 8.72.
Soya beans were suppressed by fears of prolonged war
between the United States and China, the largest in the world
importer of soy. China buys Brazilian soy
during the conflict and may be able to continue to escape the US.
soybean, given the expectation of early harvest in South America.
"The soybean export window to China is quite large
closed, "said Terry Reilly, a senior analyst at Futures,
International.
US President Donald Trump and Chinese President Xi
Jingping is expected to meet in the sidelines of the G20 summit
in Argentina this week, and Washington will raise tariffs
of Chinese imports worth $ 200 billion to 25% of 10%
percent in January if there is no agreement.
"Traders are skeptical that we will see that we make sense
Progress towards a Trade Agreement with China when President Trump &
President Xi has dinner on Friday, "said INTL FCStone
commodity economist Arlen Suderman wrote in a customer note.
Wheat futures rose for a second session as news for the US
sale of wheat in Egypt and geopolitical tensions in the Black Sea
region provoked a short circle.
"The tension between Russia and Ukraine over the weekend
may affect the level of loading from the port of Mariupol
as facilities are now subject to increased control, "
French consulting company Agritel also said.
Mariupol is the center for the export of grain to the Azov Sea, the hand of the
Black Sea. The region was at the center of a crisis
between Russia and Ukraine, which began on Sunday after Moscow
put an end to the entry of three Ukrainian ships into the Azov Sea.

Egyptian state grain buyer last week claimed to have bought 240,000
tons of wheat in auction on Thursday, half coming from
United States. And US Department of Agriculture
Monday confirmed the private sale of US 120,000 tons of softwood
red winter wheat in Egypt.

CBOT rates at 12:30. CST (1830 GMT):
Net Pct Volume
Last change
CBOT Wheat WZ8 506.75 7.00 1.4 29812
CBOT corn CZ8 355.75 -3.25 -0.9 226785
CBOT Soybean SF9 858.50 -22.50 -2.6 101366
CBOT soy flour SMZ8 301.50 -4.30 -1.4 42009
CBOT soyoil BOZ8 27.00 -0.65 -2.4 57223
NOTE: CBOT December wheat and maize and soybean January
displayed in cents of the bushel, December soy in dollars for short
tone and deck.



(Additional reports from Naveen Thukral in Singapore and Singapore
Sybille de La Hamaide in Paris; Editing by Richard Pullen and
Edmund Blair)
  

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