Soybeans are tumbling as Trump ratchets up trade fight with Beijing
Source: Reuters
Jun. 19, 2018, 09:30 AM
Jim Young/Reuters
Soybeans were down more than 2% Tuesday.
China promised to retaliate if the Trump administration imposed additional tariffs on the country.
Soybeans tumbled Tuesday after President Donald Trump threatened additional tariffs on the world's largest soy importer, raising concerns that retaliatory levies could further target American agricultural products.
Soybeans were down 2.20% to $8.86 a bushel at 9:15 a.m. ET. Prices have fallen nearly 8% over the last week as import taxes get slapped on the legume.
Trump said Monday his administration could impose additional tariffs on $200 billion worth of Chinese goods and warned that if Beijing retaliated, another $200 billion could be targeted. That, plus tariffs imposed last week, would affect $450 billion worth of Chinese products an amount approaching its total exports to the US of $505 billion.
The move marks the latest round of escalations in a trade fight that has dragged on for months. The Trump administration said Friday it would move forward with 25% tariffs on $50 billion worth of Chinese goods, despite ongoing trade negotiations between Beijing and Washington. Chinese officials quickly pushed back, imposing on the US dollar-for-dollar retaliatory tariffs on 545 categories of US products, including soybeans. .....................
Read more: http://markets.businessinsider.com/news/stocks/soybean-tariffs-prices-down-after-trump-threatens-more-tariffs-2018-6-1027201152
$150 million soybean crushing facility planned for Waupun | Regional ...
https://www.wiscnews.com/.../news/...soybean.../article_7f86133d-be1b-58cf-af96-d3...
Jun 6, 2018 - The project, developed by WSBCP (Wisconsin Soybean Crushing Plant) ... of $2.2 million, according to a press release issued Wednesday.
Waupun selected as site for first Wisconsin soybean crushing facility
https://www.fdlreporter.com/story/money/...wisconsin-soybean.../678993002/
Jun 6, 2018 - With approval, the site would open in 2020, be located in the Waupun Industrial Park and bring 39 full-time jobs.
Wisconsin farmers will be planting more soybean crops this year ...
www.wxow.com/story/.../wisconsin-farmers-will-planting-more-soybean-crops-this-year
Apr 2, 2018 - The growing season is almost upon us and farmers are beginning to think about what they will be planting this year. Soybean is a crop that is at ...
Wisconsin could see record acreage of soybeans planted in 2018
https://www.wisfarmer.com/story/news/state/.../wisconsin...soybeans.../474085002/
Kittycow
(2,396 posts)I did have a little sympathy for the farmers getting hosed, but trump's concentration camps have made me bitter.
Farmers helped put this monster in office so now they can feel some pain of their own.
However, Democratic farmers don't deserve a bit of what's happening to them but I don't know how to help them specifically.
murielm99
(30,745 posts)suffer, too.
I have listened to years of stereotyping of Southerners on DU. Now it is farmers. The farm economy is basic to this country. If it fails, we will all suffer.
We have spent years trying to convert our neighbors to the Democratic Party. We will continue to do so, and to GOTV. We could use a bit of help, not condemnation.
Rural_Progressive
(1,105 posts)Commodity farmers deal with fixed costs and a slim profit margin. That sort of cut in price pretty much took out the profitability of soybeans for this year.
I expect the one size fits all approach from our low information, pro Donnie O supporters but when people on forums like DU adapt the same approach it makes me very sad. I've read some research that suggests that some people are just hardwired to grow things. Some of us get the opportunity to farm, some have yards that are ablaze with foliage or apartment patios covered with containers of plants.
Point is that the "grow" gene is not political. It pops up in all manner of folk and it would be nice if those who paint all of us with a broad brush could accept that there are lots of progressive people who raise food for the nation.
Yeah, a little help and understanding would go a really long way right about now.
Vinca
(50,278 posts)OhNo-Really
(3,985 posts)I worked for commodity brokers last century. Millions can be made from market fluctuations with little or no money down.
I SUSPECT INVESTMENT INSIDER TRADING, perhaps even on a global scale like the Saudi Wealth fund.
I SMELL RATS
Maxheader
(4,373 posts)Uncle Joe
(58,366 posts)lagomorph777
(30,613 posts)Wellstone ruled
(34,661 posts)More Soy Oil for the Bio Diesel blenders in Iowa?
Interesting to see this in Wisconsin were Soybeans have never been a successful cash crop on any large scale. Tried it and the unpredictable Growing Season of Wisconsin made us eat our lunch. Only decent Soils for Soy are in and around River Falls area.
GETPLANING
(846 posts)Wheat, Corn, Soybeans, Soybean oil, Currencies, Metals. The Dollar is going up as investors flee the markets because of the Dotard's idiotic policies. A major correction, (a bear market, in my opinion) is upon us.
lagomorph777
(30,613 posts)Mosby
(16,319 posts)GulfCoast66
(11,949 posts)But do not expect food prices to fall. The commodity price has little to do with food costs. Some for sure. But so many high value items from grain elevator parts, tractor implements, packaging not to mention the raw materials to make them will cost more. So everything will become more expensive.
Sure, in 10 years or so we might be able to make these things for less, although doubtful. By then no one will have any capital to invest.
Remember the finance guys running trumps show are considered kwacks by almost all other economists.
But trump is doing just what Putin wants.
By 2019 he will pull us out of NATO.
workinclasszero
(28,270 posts)hibbing
(10,098 posts)We will never win these people over. Apparently his poll numbers are rising. Putting all these immigrant children in cages has massive appeal to his racist base. Besides, I am sure they will all still get their subsidies.
Peace
lagomorph777
(30,613 posts)hibbing
(10,098 posts)Of course, but not a lot of direct labor involved in huge fields with GPS combines. Meatpacking and other processing sure, but this state is deep red and I just don't see that changing any time soon.
Peace
Homer Wells
(1,576 posts)Only help the non-Trumpanzees in the farm communities
Sunlei
(22,651 posts)please grow more fresh produce 'farmers' and DEMAND more from your middlemen wholesale buyers!
even at the "sale price" of 25 cents an ear for fresh sweet corn- middlemen still make a great profit off your 300 bushels an acre corn!
GulfCoast66
(11,949 posts)Has about as much to do with 300 bushels per acre field corn as it does with Wheat. From a farming perspective sweet corn is closer to strawberries than it is dent(field) corn.
Totally different crop.
And there is a finite limit to sweet corn demand. Hogs and cows have an unending appetite for field corn.
On my first trip to Germany I was briefly surprised at all the corn I saw growing as Germans just do not eat it. But of course, the love pork!
roamer65
(36,745 posts)Im gonna love it in September and October when grain elevators refuse to take the farmers crops.