Oilseeds - Oils

Soybeans: US government supports economy with USD 1 trillion

March 18, 2020 3:41 PM, Der AUDITOR
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CHICAGO. The US soybean market took a breather after the Trump government plans to support the economy with USD 1 trillion. In the USA, fears that the covid-19 pandemic could paralyze the US healthcare system are boiling up because many US citizens do not have any health insurance. In both the US and Brazil, soybean exports plummeted in March due to the pandemic, which led to higher price demands from the local soybean meal trade.

In the USA the downward trend in US soybeans, which had lasted several days, was halted. However, the price gains were moderate. The reason for this was the economic stimulus package of USD 1 trillion presented by the Trump government. Americans can receive checks if they can prove that they have lost sales due to the covid-19 pandemic. U.S. Americans are also subject to travel restrictions to counter the spread of the pandemic. News of far-reaching restrictions on business in Malaysia fuelled fears of falling production of palm oil, which competes with soybean oil on the world market. In M


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