Soybeans plunge to near their lowest level in a decade

[PostmodernProphet]

https://www.nasdaq.com/markets/soybe...x?timeframe=1y

actually, soybeans initially dropped from a high of $10.80 down to $8.40 when China announced its tariff.......they started buying Brazilian soy instead......Brazilian soybeans went through the roof of course.......the rest of the world started buying US beans because they were cheaper........the price of US soy was back up to $9.20 by August.......there have been no new tariffs on soybeans....the current price drop is seasonal, farmers are currently harvesting the 2018 crop......prices always go down during harvest........I grew up on a farm raising soybeans......my family still raises soybeans.........

here's a fun fact......night shade produces a berry that hardens into a poisonous black seed that is exactly the same size as the yellow soybean.......it is impossible to glean it out and you can see the occasional black "bean" in every bushel of soy......it gets processed along with the soybeans........it may account for the reduced mental capacity of soyboys like guano........

[Althea]

MAGA by bankrupting his base


The legumes were trading at $8.12 a bushel, near the lowest level since 2008, on the Chicago Board of Trade after President Donald Trump announced another round of tariffs on $200 billion worth of Chinese imports. Beijing responded with retaliatory duties on $60 billion worth of American imports.


China hit American soybeans with retaliatory import taxes in July after the Trump administration rolled out tariffs on $50 billion worth of its goods. That country is the largest soybean customer in the world, using them in part to feed livestock. It imported nearly 60% of soybeans traded around the world in 2017.

Demand concerns come just after government data showed strong conditions for a record US harvest.

A growing confidence within China’s soybean industry and government that the world’s largest pork-producing nation can wean itself off U.S. soy exports – a prospect that would decimate U.S. farmers, upend a 36-year-old trading relationship worth $12.7 billion last year, and radically remap global trade flows.





https://markets.businessinsider.com/...8-9-1027544895

No worries. That's what the govt. is for.

[Althea]

the good news about crops is you can always just plant a different one next time as opposed to factories which costs a lot to repurpose. If soybeans is the best china can hit as with then theres no problem.

Such as?

[Althea]

As soybean futures plunge, farmer says tariffs have 'devastated' the industry


https://www.cnbc.com/2018/08/10/as-s...-industry.html

Trumps song to the farmers

They'll still support trump. They, like he, believe that China...and the rest of our trading partners...are simply going to cave to trump like all the small businesses he refused to pay for services rendered.

Wait until the full cost of these tariffs hits across various industries early next year.

[Irish Exit]

the good news about crops is you can always just plant a different one next time as opposed to factories which costs a lot to repurpose. If soybeans is the best china can hit as with then theres no problem.

It isn't that simple. A lot of the farms have millions invested in specialized equipment. That was one of the issues with the tobacco allotment buyout programs. A million dollar check looks great to everybody except the tobacco farmers with a million and a half dollars in specialized equipment and barns sitting around.

Anyway, soy is not that great for your health and is one of the drivers of deforestation of the Amazon, so the industry should be checked, particularly considering their public misinformation campaign regarding it being better than saturated fats.

[Bigdog]

https://www.nasdaq.com/markets/soybe...x?timeframe=1y

actually, soybeans initially dropped from a high of $10.80 down to $8.40 when China announced its tariff.......they started buying Brazilian soy instead......Brazilian soybeans went through the roof of course.......the rest of the world started buying US beans because they were cheaper........the price of US soy was back up to $9.20 by August.......there have been no new tariffs on soybeans....the current price drop is seasonal, farmers are currently harvesting the 2018 crop......prices always go down during harvest........I grew up on a farm raising soybeans......my family still raises soybeans.........

here's a fun fact......night shade produces a berry that hardens into a poisonous black seed that is exactly the same size as the yellow soybean.......it is impossible to glean it out and you can see the occasional black "bean" in every bushel of soy......it gets processed along with the soybeans........it may account for the reduced mental capacity of soyboys like guano........

Thanks for posting the actual facts.

[katzgar]

They'll still support trump. They, like he, believe that China...and the rest of our trading partners...are simply going to cave to trump like all the small businesses he refused to pay for services rendered.

Wait until the full cost of these tariffs hits across various industries early next year.

It gets back to that same old thing about trumpsters not being educated. people with an education understand that tariffs are nothing but a tax on consumers and it's really that simple.

[Fentoine Lum]

Can't you get anyone to gobble your pork, does it smell shitty?

America smells shitty.

[Fentoine Lum]

It gets back to that same old thing about trumpsters not being educated. people with an education understand that tariffs are nothing but a tax on consumers and it's really that simple.

Just like sanctions, you do not hit the leader of another nation, you hit the unsubstantial people - here, of both nations. But the substantial people don't have to care about any of that. Don's got a dick measuring contest going on and we now know he can't compete with that little mushroom of his.

[Micawber]

MAGA by bankrupting his base


The legumes were trading at $8.12 a bushel, near the lowest level since 2008, on the Chicago Board of Trade after President Donald Trump announced another round of tariffs on $200 billion worth of Chinese imports. Beijing responded with retaliatory duties on $60 billion worth of American imports.


China hit American soybeans with retaliatory import taxes in July after the Trump administration rolled out tariffs on $50 billion worth of its goods. That country is the largest soybean customer in the world, using them in part to feed livestock. It imported nearly 60% of soybeans traded around the world in 2017.

Demand concerns come just after government data showed strong conditions for a record US harvest.

A growing confidence within China’s soybean industry and government that the world’s largest pork-producing nation can wean itself off U.S. soy exports – a prospect that would decimate U.S. farmers, upend a 36-year-old trading relationship worth $12.7 billion last year, and radically remap global trade flows.





https://markets.businessinsider.com/...8-9-1027544895

No worries, Trump will cut every industry he decimates a price support check. Republicans, the party of austerity and laissez faire economics! "Bawhawhaw!"

[cancel2 2022]

They'll still support trump. They, like he, believe that China...and the rest of our trading partners...are simply going to cave to trump like all the small businesses he refused to pay for services rendered.

Wait until the full cost of these tariffs hits across various industries early next year.

Mexico already has, Canada and the EU will be next.

[cancel2 2022]

It gets back to that same old thing about trumpsters not being educated. people with an education understand that tariffs are nothing but a tax on consumers and it's really that simple.

Are you taking your lithium?

[reagansghost]

Mexico already has, Canada and the EU will be next.

Mexico already has done what dipshit?

[kudzu]

Wait just a fucking minute here, Cisco.

"China’s soybean industry and government that the world’s largest pork-producing nation ..."

I thought you hated all the 'pork-gobblers'? Now, ... you're all concerned about there won't be enough pork to gobble???

(you know, something here doesn't smell very kosher about this turn of events on your part, guno)

Its true.. We have known for months that SC soybean farmers were going to take a 137 million dollar hit because of Trump.. His solution is to make it up to them with a government subsidy.

So that's a mere 274 million dollars just for soybeans in South Carolina that will rot in the fields.

[kudzu]

Mexico already has done what dipshit?

Trump just finished a long, windy attack on Jeff Sessions.. God, Trump is such a vicious old gossip.