Wheat, soybean, and corn quotations in the United States rose by 2.3-3.5% after signing an agreement with Vietnam.
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Agricultural commodity markets in the USA remain under pressure from forecasts of a good harvest in the new season and uncertainty with exports to China, which promised to limit purchases of soybeans and corn from the USA after Trump imposed high tariffs. Therefore, traders positively reacted to additional export prospects associated with the agreement with Vietnam and activated speculative purchases ahead of the long weekend in celebration of US Independence Day on Friday. Yesterday, Trump announced a "trade agreement" with Vietnam, which led to a sharp speculative increase in quotations for soybeans, corn, and wheat in the USA. July wheat futures yesterday rose: Also on the Chicago exchange, September corn futures yesterday rose by 3% to $164.6/ton, and July soybean futures - by 2.5% to $385.8/ton. President Trump announced reaching an agreement with Vietnam on a new trade deal that will reduce the tariff rate for the Asian country's exports to the USA. According to BBC, the ...