Soybean Market Faces Declines Amid Tariff Tensions with China

The soybean market experienced losses on Friday, with nearby contracts trading between 24 and 26 cents lower. CmdtyView’s reported national front month Cash Bean price decreased by 25 1/4 cents, settling at $9.30. Additionally, soymeal futures fell $3.20 per ton, while soy oil futures dropped by 1390 points.

Impact of Tariffs on U.S. Exports

In response to President Trump’s reciprocal tariffs, China has implemented a retaliatory tariff of 34% on all U.S. goods. This escalation affects nearly 600,000 metric tons (MT) in unshipped soybean sales to China, alongside 2.02 million MT in unshipped sales to undefined destinations, which may include China.

Current Export Commitments

The USDA Export Sales report released on March 27 indicated 46.17 million MT in commitments, reflecting a 14% increase compared to the same time last year. This figure represents 93% of the USDA forecast, slightly trailing the average pace of 94%.

Current Soybean Prices

May 25 Soybeans: $9.85 3/4, down 25 3/4 cents

Nearby Cash: $9.30, down 25 1/4 cents

Jul 25 Soybeans: $10.01, down 25 1/4 cents

Nov 25 Soybeans: $9.92 1/4, down 24 3/4 cents

New Crop Cash: $9.30 3/4, down 24 1/2 cents

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) any positions in the securities mentioned in this article. All information and data provided are for informational purposes only. For further details, please refer to the Barchart Disclosure Policy here.

Conclusion

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