Futures Close Report 24th April

EU has implemented import duty on US maize / rye and sorghum.  Maize prices have continued to fall in US to the current 10 year low, values have been below the EU price floor for 10 consecutive days triggering the 5.27 Euro / tonne import tariff.  Prices continue to be calculated on a 10 day rolling average therefore any further price falls will result in increased tariff.

Chinese buyers reported to have booked 606,000 tonnes of US soybeans over the last week, for delivery this crop year, buyer taking advantage of 11 month low in prices due to ongoing C-19 pandemic.