The trade dispute between the U.S. and China has seemed like a slow-motion car crash since tensions surfaced in February, but the two powers finally collided for real today after U.S. sanctions formally went into effect Thursday night. The soybean market moved higher after the move, with some traders hoping for a “sell the rumor, buy the fact” reversal because the market has had plenty of opportunity to absorb the impact of the 25% retaliatory tariff on U.S. imports.
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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.