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Serving: United States

Soybeans plummet on China tariff

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Markets plunge as trade war heats up. (video)

The attempted rebound in soybeans came to a screeching halt early this morning, when China announced its new retaliatory tariffs against U.S. imports, including a 25% levy on soybeans. The list of goods hit by the tariffs came after the U.S. put out its own long list of tech goods from China as the trade dispute between the two countries heats up. The new tariffs aren’t in effect yet, but will be the subject of negotiations for now. The news sent markets around the world sharply lower, with corn hit by double digit losses. Wheat fared a little better but was still down 6 to 10 cents as traders eyed dry forecast for the southwest Plains.

Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Call on www.FarmFutures.com he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. His other weekly reviews on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.

For more corn, wheat and soy news, commodity marketing recommendations and daily commodity charts, subscribe to Farm Futures' free e-newsletter, Farm Futures Daily, and keep up during the day with Farm Futures on Twitter.

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