China imposed duties have fallen off the price of soybeans in the United States
After China's declared intention to impose duties in response to actions of the United States, soybean futures on Friday fell to an annual minimum 343 $/etc
In response to the statement by D. trump on June 15 on the introduction of import duties on more than 1,000 Chinese goods, the Commerce of China has announced that it will impose symmetric tariffs on American goods immediately after the publication of the official list of goods that will be subject to additional tax in the amount of 25%, which also includes soybeans and sorghum.
Prices are unable to maintain even the increase in soybean processing in the United States last month.
According to the monthly NOPA report, compared with April, the processing volume in may rose 1.6% to 163,5 thousand tonnes, which is 9.6% higher than may 2017, while stocks of soybean oil have become 11.3% less than it was in April.
Under pressure from favorable weather conditions and the uncertainty in soybean exports to China soybean futures new crop for two weeks, lost 13% of the price.
U.S. exports to China of 62% of the total exports of soybeans of 60 million tons, so the reduction in exports will have a significant impact on farmers ' income. China will not be able to completely abandon the American soybean as the import needs reach 95-100 million tons, so the processors will be forced to import soybeans from the United States, even with the additional fee.
take advantage of the Situation of Brazil, which this year will collect a record 118 million tons of soybeans and actively export them to China.