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Corn: coronavirus and economic slowdown depress market

January 28, 2020 1:07 PM, Der AUDITOR
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PARIS. The corn market declined, except in the Black Sea Region. Fears of a global economic slowdown and the risks due to the coronavirus in China and other contries in Asia clouded the market. Due to rainfall in northern Argentina and central Brazil, the development of corn is progressing well. EU corn imports fell back.

In Chicago, US corn was quoted at 379.00 cents per bushel, which is 1.50 cents lower than yesterday. In Paris, corn fell by EUR 0.75 to EUR 169.50 per metric tonne. The market has recently been dominated by slightly pessimistic expectations. Concerns over the spread of coronavirus in China and East Asia triggered a massive liquidation in global financial and commodity markets, trade officials said. Further cases have already occurred in Japan, Singapore, South Korea, Taiwan, Thailand and the USA. However, at 668,559 metric tonnes, the US export inspection was in line with trade expectations

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