Managing for Profit
Tariff impact on soybean price greater after harvest
The issue of tariffs between the U.S. and China has taken a toll on soybean futures. This is not the point on the calendar when most U.S. soybeans are shipped to China, but if tariffs remain when the U.S. harvest begins, “that’s when this could be a lot more bearish if this is not resolved by that point in time,” said Steve Nicholson, a grains and oilseeds analyst at Rabo AgriFinance. Trump Administration-imposed fees on imported steel and aluminum from China prompted retaliatory tariffs, notably for farmers, on U.S. soybeans exported to China. There has already been harm, said Nicholson. The obvious steep downturn in the soybean market has hit farmers’ pocketbooks.
AUDIO: Steve Nicholson (3 min. MP3)
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