Soybeans at 2-Month Low as China Retaliates with Tariffs
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Soybean futures extended their decline, falling below $10.00 per bushel to their lowest level since January 9, as China’s retaliatory tariffs on US farm goods threatened to disrupt agricultural trade.
On March 4, China swiftly responded to new US tariffs by imposing 10%-15% hikes on import levies for various American agricultural and food products while placing 25 US firms under export and investment restrictions.
US President Donald Trump’s 25% tariffs on imports from Mexico and Canada took effect Tuesday, alongside a tariff increase on Chinese goods from 10% to 20%.
In Brazil, the soybean harvest for the 2024/25 season reached 50% completion by February 27, up from 39% the previous week and 48% a year earlier, according to AgRural data.
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