In the wake of the announcement of possible tariffs being placed on U.S. soybeans headed into China, soybeans from South America have been passing through the ports with relative ease.
Soybeans, and other products, have been facing increased scrutiny. Typically, soybeans exports from the U.S. slow down into the summer months as a fresh supply is coming from South America.
“It’s nothing new,” said Jarod Creed, founder of JC Marketing. “China’s played these games.”
Not knowing what the outcome of the trade disputes between the U.S. and China, Garrett Toay, risk management consultant with AgTraderTalk, thinks $9.50 per bushel soybeans are more likely than $10.50 per bushel soybeans, but it won’t last long.
“Meal is going to be the driver, but it’s not a bean issue at this point,” he said.
Hear their full discussion on China and how the value of the Argentinian Peso on Markets Now on U.S. Farm Report above.