Grains - Grain Products

Corn: USA lowers key interest rate

March 4, 2020 12:36 PM, Der AUDITOR
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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

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