US corn prices skyrocket after recent collapse

A sharp increase in US corn prices was observed on Friday, January 17, 2020. This was reported by the press service of Agritel.

The market has recovered from heavy losses recorded on the previous day, and is now testing levels of technical resistance.

“The actions of hedge funds are the main reason for these fluctuations, while activity in the physical market remains low,” analysts say.

US traders are still controversial about the impact of the U.S. interim trade agreement with China.

According to the report, geopolitical uncertainty will continue to affect commodity markets.

“The trial of Donald Trump as part of the impeachment procedure will be held this week with little chance of success,” experts say.

Recall that China will increase the volume of purchased US goods and services by $ 200 billion over two years in exchange for the abolition of certain duties under the initial trade agreement signed between China and the United States on January 15, 2020.

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