Wheat, corn and soy fall as market anticipates Trump win
Adds analyst comment, updates prices
CANBERRA, Nov 6 (Reuters) -Chicago wheat, corn and soybean futures fell sharply on Wednesday as early results from the U.S. presidential election put Donald Trump in the lead, raising prospects of new trade barriers and boosting the dollar.
Trump, the Republican candidate, wasdrawing more support than he did in his failed 2020 campaign, though the result remained unclear in most of the battleground states that will decide the winner.
Markets did not wait. U.S. stock futures, Treasury yields and the dollar gained sharply and most commodities lost ground. MKTS/GLOB FRX/ USD=
Tariffs proposed by Trump could disrupt U.S. agricultural trade,U.S. farmers fear. A stronger dollar makes U.S. farm exports costlier for overseas buyers.
"A trade war with China is now more of a possibility," said Ole Houe, director of advisory services at IKON Commodities in Sydney.
But even if Trump wins, prices would quickly rebound, he said.
"The market will initially trade the trade but claw it all back within a week... There's plenty of demand for wheat and feed grain in the world. Soybeans are fairly priced, but wheat and corn are too cheap."
The most-active wheat contract on the Chicago Board of Trade Wv1 had fallen 1.5% to $5.63-3/4 a bushel at 0459 GMT, with CBOT soybeans Sv1 1.9% lower at $9.83 a bushel and corn Cv1 down 0.9% at $4.14-3/4 a bushel.
All three contracts have regained some ground since hitting four-year lows in recent months.
Bumper U.S. corn and soybean harvests and improving conditions in U.S. winter wheat areas have pressured prices but the harvests are now winding up and other key wheat regions, such as the Black Sea and Australia, are dry, analysts said.
Markets are also looking forward to a U.S. interest rate decision on Thursday and crop forecasts from the U.S. Department of Agriculture (USDA) on Friday.
Reporting by Peter Hobson; Editing by Sumana Nandy
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
