Grain prices fell on the pan-European exchange Euronext in Paris amid the prospect of a US-China trade war, which puts pressure on all major economic indicators and causes mass sales. The analyze was prepared by the specialized organization for agricultural risk assessment Agrittel.
Today the price of wheat with September delivery fell by 1.75 EUR to 175.75 EUR per tonne. The quotation on December futures also fell by 1.75 EUR to 180 EUR per tonne in trade with over 18,800 lots.
At the same time, the price of corn with August delivery fell by 0.75 EUR to 164.50 EUR per tonne, while quotation on November futures fell by 0.50 EUR to 167.50 EUR per tonne.
The US announced imposing duties on imports of Chinese goods with annual turnover of 50 billion USD. In response, China will change with 25% tariffs 659 kinds of US goods, including soybeans.
The US farmers are getting worried, as their revenues have fallen sharply in recent years – by about 50% since 2013, and this year is expected to reach the lowest level since 2006.
Only rapeseed prices have remained stable at Euronext under the influence of contradictory information, especially oil. The prices of oil and rapeseed are linked because the oilseed crop is used to produce biofuels.
One tonne of rapeseed with delivery in August was traded for 349.25 EUR (-0.25 EUR) and November deliveries remained at the value of 357 EUR per tonne.