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Soybean rises on Chinese purchase hopes

Economies.com
2020-02-13 22:28PM UTC

Soybean futures rose on Thursday, bolstered by renewed hopes about China to increase its purchases of US farm goods according to the phase-one trade deal between the two countries.

 

Soybean prices were also buoyed by a drop in the US domestic crop production, despite forecasts of a strong harvest season in South America, especially by Brazil and Argentina.

 

The US investors fear that the strong performance by the dollar will impact demand for US agricultural crops, compared to the weak Brazilian real, and the Argentine peso.

 

It's worth mentioning that the US has signed with China the phase-one of the trade pact on Jan. 15, which consisted of Beijing purchasing $200 billion worth of US goods and services over two years, including about $40 billion of farm goods.

 

Soybean March futures rose 0.4% to settle at $8.95 a bushel, after hitting a high of $8.99, and a low of $8.88.

US stocks end lower on renewed concerns over coronavirus

Economies.com
2020-02-13 22:39PM UTC

US stocks fell on Thursday, weighed down by the renewed fears over the coronavirus spread, in addition to less-than-expected economic data.

 

The Chinese government revealed today that the coronavirus death toll rose to more than 1367 victims, and infected about 60,000 people.

 

Data showed today that the jobless claims in the US increased by 2000 to 205,000 in the past week, while the CPI reading rose by 0.1% during January, lower than forecasts of 0.2%.

 

To the oil market, WTI crude gained 0.5% to close at $51.42 a barrel, after it hit a day high of $51.9 and a low of $50.6.

 

Brent rose by 1% to $56.34 a barrel, with a high of $56.8 and a low of $54.9.

 

As for stocks, Dow Jones lost 0.4% or 128 points to settle at 29,423, and hit an intraday high 29,535 and a low 29,345.

 

Nasdaq fell by 0.1% or 14 points to 9,712 points, with a high of 9,748 and a low of 9,650 points.

 

S&P 500 fell by 0.1% or 5 points to close at 3,374 with a high of 3,3385 and a low of 3,360.

Sterling rises on Johnson's cabinet reshuffle

Economies.com
2020-02-13 20:39PM UTC

The British pound rose against most major currencies today, after the British PM Boris Johnson conducted a government reshuffle.

 

The Chancellor of the Exchequer, Sajid Javed, announced his resignation, while the market anticipate cabinet reshuffles.

 

The BBC quoted informed sources that the former conservative Treasury Secretary, Rishi Sunak, will take over the post.

 

This came as Johnson wants a cabinet appointed to draft the coming plans for the UK after implementing the Brexit on January 31.

 

While the markets are anticipating the details around the future relations and Prime Minister Johnson's deal with Brussels.

 

Otherwise, the UK confirmed recently the first case of coronavirus in the country, and Japan revealed the first death.

 

As of 20:37 GMT, GBP/USD rose 0.7% to 1.3044, after the pair hit a high of 1.307 and a low of 1.2944.

Silver closes higher as coronavirus fears boost safe-haven demand

Economies.com
2020-02-13 20:59PM UTC

Silver futures rose on Thursday, lifted by increased safe-haven demand for precious metals due to mounted concerns over the coronavirus, while the US dollar held steadily.

 

The Chinese government revealed today that the virus death toll rose to more than 1360 victims, and infected about 60,000 people.

 

Estimates for the impact of the coronavirus crisis on the global economy are still underway, which propelled the analysts at the British bank HSBC to forecast that the Chinese economy growth will slowdown in the first quarter.

 

The dollar index held at 99.1 points as of 20:47 GMT, after hitting a high of 99.1 and a low of 98.8.

 

Silver futures rose 0.7% to close at $17.619 an ounce, with a day high of $17.715  and a low of $17.44.

Frequently asked questions

What is the price of Soybeans today?

The price of Soybeans is $1048.00 (2025-07-03 02:54AM UTC)