Grains - Grain Products

Corn: USA lowers key interest rate

March 4, 2020 12:36 PM, Der AUDITOR
Play report as audio

PARIS. The corn market recovered slightly in the USA and Western Europe, but the Black Sea market continued to decline. Yesterday, the US central bank cut the key interest rate by 0.5 percentage points, to which stock and commodity markets initially reacted with price rises. Recently these turned negative again, the interest rate cut was interpreted as meaning that the consequences of the coronavirus could hit the economy even worse than expected.

The corn markets showed a slight recovery trend. In Chicago, corn increased by 5 cents to USD 3.82 per bushel, in Paris even by EUR 1.50 to 166.50 EUR per metric tonne compared to yesterday. In the USA, the FED surprisingly cut the key interest rate by 0.5 percentage points, with a range of 1.0 to 1.25%. This drove stock and commodity markets, and the USD weakened. In Malaysia and Australia, too, the monetary authorities had lowered interest rates. The seven industrialised countries (G7) announced that they would take appropriate political measures to combat the consequences of the cor

View related articles

Go to the News Overview
Grains
Dec 6, 2021
BEIJING. In China, demand for millet is currently so low that many processors have temporarily stopped producing. This is also causing prices to decline.
Grains
Dec 2, 2021
BEIJING. With the arrival of the Eastern European crops on the market, Chinese market players expect increased price pressure. Prices have already fallen slightly compared to last week.
Grains
Nov 23, 2021
BEIJING/MOSCOW. Russia, Ukraine and Kazakhstan were able to increase their buckwheat production this year. Germany's imports, however, declined noticeably in the first month of this season. In China, prices remained stable.
Grains
Nov 22, 2021
BEIJING/KIEV. According to the latest data from the US Department of Agriculture, global millet production has been lower than expected. In China, market players have been able to agree on a price level.