Soybean and wheat market relationships changed
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The US and China have signed the phase one trade agreement. Under the deal, China promises to buy more US agricultural products over the next two years, provided market conditions are favourable. However, the question remains whether grain markets will benefit from the truce. In the meantime, the relationships in the soybean and wheat markets have also changed considerably.
Wheat: Russia’s output and export share have falling. Corn: low price volatility and limited fundamental changes. Soybeans: soybean trade has changed dramatically in only 18 months.