{"id":145948,"date":"2023-02-06T08:00:00","date_gmt":"2023-02-06T00:00:00","guid":{"rendered":"https:\/\/www.mediaintel.asia\/?p=913317"},"modified":"2023-02-06T08:00:00","modified_gmt":"2023-02-06T00:00:00","slug":"grains-soybeans-fall-on-china-sales-worry-after-u-s-shoots-down-balloon","status":"publish","type":"post","link":"https:\/\/www.chinalegalblog.com\/en\/2023\/02\/06\/grains-soybeans-fall-on-china-sales-worry-after-u-s-shoots-down-balloon\/","title":{"rendered":"GRAINS-Soybeans fall on China sales worry after U.S. shoots down balloon"},"content":{"rendered":"<div align=\"center\"><a href=\"https:\/\/www.mediaintel.asia\/\" title=\"MediaIntel.Asia provides Media Intelligence and Media Monitoring in Asia\" ><img src=\"https:\/\/www.mediaintel.asia\/wp-content\/uploads\/mediaintelasia-logo-blackyellow-400x300-1.png\" border=\"0\" width=\"200\" height=\"150\" alt=\"MediaIntel.Asia\"><\/a><\/div>\n<p>*<br \/>\nFear China could stop U.S. purchases after balloon incident<br \/>\n*<br \/>\nHuge Brazilian soybean crop pressures<br \/>\n*<br \/>\nWheat underpinned by new tender<br \/>\n(Recasts with European trade, adds new comment, changes dateline)<br \/>\nBy Michael Hogan<br \/>\nHAMBURG, Feb 6 (Reuters) - Chicago soybeans fell on Monday, pressured by concern U.S. sales to China could be endangered by political tension after the United States shot down a Chinese balloon.<br \/>\nWheat was supported by strong international demand, especially a new tender from major importer Algeria.<br \/>\nChicago Board of Trade most-active soybeans fell 0.5% to $15.24-1\/4 a bushel at 1202 GMT. Wheat rose 0.2% to $7.58-1\/4 a bushel, corn fell 0.4% $6.74-1\/2 a bushel.<br \/>\nThe United States is searching for remnants of what it believes was a Chinese surveillance balloon shot down over the Atlantic, and China says was a civilian craft that drifted astray.<br \/>\n\u201cSoybeans and partly corn are being pushed down today by fears of geo-political tensions between the U.S. and China after the U.S. shot down the Chinese balloon over the weekend,\u201d said Matt Ammermann, StoneX commodity risk manager. \u201cPolitical tension is not good for new sales of soybeans or corn to China.\"<br \/>\n\"There is also the fear the Chinese government could order the cancellation of existing Chinese purchases of U.S. soybeans and corn.\u201d<br \/>\n\u201cThere is continuing background weakness for soybeans provided by the huge expected soybean crop in Brazil, although the harvest work is currently looking slow.\u201d<br \/>\nConsultancy Safras &#038; Mercado forecast a record Brazilian soybean crop. Advance Brazilian new crop sales rose slightly from last month but still tail last year.<br \/>\n\u201cCorn is also suffering from the perception that it is too expensive compared to wheat, a factor which in turn is also supporting wheat,\u201d Ammermann said. \u201cWheat is also being underpinned by some new purchase tenders in the market, especially from Algeria.\u201d<br \/>\nAlgeria issued two tenders each for a nominal 50,000 tonnes of soft milling wheat. South Korea's Major Feedmill Group purchased about 65,000 tonnes of animal feed wheat in a private deal. (Reporting by Michael Hogan in Hamburg and Matthew Chye in Singapore, editing by Barbara Lewis)<br \/>\n\u00a9 Copyright Thomson Reuters 2023. Click For Restrictions - http:\/\/about.reuters.com\/fulllegal.asp<\/p>\n<p>This data comes from <a href=\"https:\/\/www.mediaintel.asia\/\" title=\"MediaIntel.Asia provides Media Intelligence and Media Monitoring in Asia\" >MediaIntel.Asia's Media Intelligence and Media Monitoring Platform<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>*<br \/>\nFear China could stop U.S. purchases after balloon incident<br \/>\n*<br \/>\nHuge Brazilian soybean crop pressures<br \/>\n*<br \/>\nWheat underpinned by new tender<br \/>\n(Recasts with European trade, adds new comment, changes dateline)<br \/>\nBy Michael Hogan<br \/>\nHAMBURG, Feb 6 (Reuters) &#8211; Chica&#8230;<\/p>\n","protected":false},"author":253,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[144,69,194,615,484],"tags":[10500,2636,3009,3472,10352,10315,1859,10412],"class_list":["post-145948","post","type-post","status-publish","format-standard","hentry","category-china","category-copyright","category-news-chinese-law","category-south-korea","category-united-states","tag-algeria","tag-brazil","tag-chicago","tag-chinese","tag-european","tag-media-intelligence","tag-singapore","tag-soybean"],"_links":{"self":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/145948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/users\/253"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/comments?post=145948"}],"version-history":[{"count":1,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/145948\/revisions"}],"predecessor-version":[{"id":145949,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/145948\/revisions\/145949"}],"wp:attachment":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/media?parent=145948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/categories?post=145948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/tags?post=145948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}