Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
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Chip Nellinger with Blue Reef Agri-Marketing says the soybean market was disappointed China did not lower the 10% reciprocal tariff on beans and details were vague on other ag purchases.
China cuts tariffs on $60 billion in goods but holds soybeans as leverage for future negotiations, disappointing markets.
Joe Kooima with Kooima Kooima Varilek says the cattle charts are looking more friendly after last week. While grains are disappointed in the lack of details from the China trade summit.
Grains recovered off the lows after USTR Jamieson Greer stated significant progress had been made with China, including on ag trade, and details would be released on Monday.
Varilek says the slowdown in slaughter tied to ICE raids has hurt producers leverage in the cash market and it has been reflected in northern bids.
The market wants details, especially of what is included in the additional $17 billion prorated ag purchases China has promised, beyond soybeans
Randy Martinson of Martinson Ag says the trade truce being extended for just two months is a disappointment.
A new report commissioned by NCGA and ASA found 90% of 1,200 farmers surveyed say they are more or equally concerned about their farm financials than a year ago.