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On beans they have to be careful they have supply or it will hurt the importers – farmers etc that use it as feed stock and process there – more I see these trade war flow ons the more I see this as Trump deal making and unless China miss steps the will be fairer adjustments rather than wars.
Damage to the Argentine soybean crop from longtime drought continued to support CBOT prices. Buenos Aires Grain Exchange estimated on Thursday the Argentina soybean crop would decrease to 40 million metric tons from the previous 46 million metric tons, as the rainfall came too late.
Thank you for the heads up – Today WSJ story saying China preparing to target US agricultural exports but officials are also considering easing restrictions on foreign investments in securities firms and insurance companies.
Specifically mentioned for tariffs are soybeans, sorghum and live hogs.
Former Chinese finance minister Lou Jiwei recommended tariffs on US soybeans it was reported:
“If I were in the government, I would probably hit soybeans first, then hit autos and airplanes. We cannot let other people profit at our expense.”
Via Bloomberg
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