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Soybeans: China's import transactions are severely delayed

February 26, 2020 3:17 PM, Der AUDITOR
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CHICAGO. The soybean market continues its weak price performance. Fears of a coronavirus pandemic are increasing and make further market assessments difficult. China can only process imports with a considerable delay. In Argentina, the export tax increases have caused strong criticism from farmers, who recently threatened the government with a sales stop.

In the USA, soybean prices in Chicago at midday were virtually unchanged at USD 8.78 per bushel. Increasing fears of a pandemic of the coronavirus continued to put pressure on the markets. In the meantime, the virus has spread to 32 countries worldwide. In particular, new cases in South Korea, Iran, the Persian Gulf region and Italy are scaring the world. There is currently a great deal of uncertainty about the virus, making it difficult to predict market direction, said Phin Ziebell, agronomist at the National Australia Bank. The USDA also announced no soybean exports to China yesterday an

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