The prices of CBoT agricultural futures have been able to maintain their recent levels. This could remain the case until the end of the year, as many traders are off during the Christmas holidays. However, there is still uncertainty as to whether China actually has such a high import requirement for US agricultural commodities as is to be contractually agreed in the first section of a trade agreement with the US at the beginning of January.
Otherwise, it is now the vacations, brokers in Sydney state succinctly this morning.
The volume that China is to promise in the agreement under discussion seems too high to many market participants. In addition, a record soybean harvest of 122.7 million tons is expected in Brazil.
Source
HANSA Terminhandel
