AgriTalk: Soybean Export Sales on Pace

April 12, 2018 04:19 PM

“The threat of tariffs and actual tariffs are basically the same thing to importers,” is what Ken Morrison from Morrison on the Markets told AgriTalk After the Bell host Chip Flory. And importers are already acting like the tariffs are in place, explained Morrison. He said importers other than China have lined up shipments from the U.S. since April 4 when China announced plans to counter-punch proposed U.S. tariffs. Somewhat ironically, the risk of fewer bean exports to China in the year ahead has turned into a demand surge for U.S. soybeans. Morrison said the redistribution of trade could result in up to 145 million to 150 million in exports to countries other than China between now and the end of the marketing year. And those potential sales, according to Morrison, would put the U.S. on pace to hit USDA’s current export estimate of 2.065 billion bushels.

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