Soybean Prices in the Red in Trade War News

Soybeans futures are trading mostly 11 to 13 1/4 cents lower. Meal futures are down $3.60/ton and soy oil was down 31 points. China announced a 5% increase to the tariffs on US soybeans, taking them to 30% starting on Sept. 1. This will not make much difference as Chinese private companies have stopped purchases of US soybeans, as state buyers (exempt from tariffs) are making some purchases. President Trump replied by stating he will be responding to the tariff increase this afternoon and US companies should find alternatives, further pressuring the markets. The Pro Farmer Midwest Crop Tour wrapped up on Thursday with legs through MN and IA, again finding pod counts below last year for those routes. USDA’s current national average yield estimate is 6% below year ago.

SEP 19 Soybeans are at $8.42 3/4, down 13 1/4 cents,

NOV 19 Soybeans are at $8.55 1/2, down 13 1/4 cents,

JAN 19 Soybeans are at $8.70 1/2, down 12 cents,

MAR 20 Soybeans are at $8.84, down 11 1/2 cents,

SEP 19 Soybean Meal is at $290.10, down $3.60,

SEP 19 Soybean Oil is at $28.23, down $0.31

--- provided by Brugler Marketing & Management




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