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.
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