Nervousness in internationally commodity markets has intensified this week due to the continued spread of the coronavirus, termed COVID-19.
Global grain markets broadly saw a modest rise early last week led by the news that Australian wheat production is expected to hit a 12-year low.
However, this gain was short-lived as news of over 80,000 confirmed cases in China and more than 1,200 cases confirmed in 30 other countries put pressure on most commodity markets this week.
Despite the new phase-one deal between the US and China, Chinese grain markets, particularly for oilseed, are reportedly slow. Fears are mounting that the Chinese economy is also slowing.
European grain markets struck a bearish tone this week with Paris milling wheat for March down 0.8% at €193.5/t while May rapeseed was down 1.25% to €395/t last Monday.
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Nervousness in internationally commodity markets has intensified this week due to the continued spread of the coronavirus, termed COVID-19.
Global grain markets broadly saw a modest rise early last week led by the news that Australian wheat production is expected to hit a 12-year low.
However, this gain was short-lived as news of over 80,000 confirmed cases in China and more than 1,200 cases confirmed in 30 other countries put pressure on most commodity markets this week.
Despite the new phase-one deal between the US and China, Chinese grain markets, particularly for oilseed, are reportedly slow. Fears are mounting that the Chinese economy is also slowing.
European grain markets struck a bearish tone this week with Paris milling wheat for March down 0.8% at €193.5/t while May rapeseed was down 1.25% to €395/t last Monday.
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