China tit-for-tat tariffs bite into soybean farmers’ sales — here’s how the ripple effect could hurt you

USDA’s September outlook already penciled in lower U.S. soybean exports for the current marketing year. The forecast is 1.69 billion bushels, down from 1.8 billion bushels in June. The agency has cut the season-average farm price forecast to $10.10 per bushel, down from $10.25 in June. As of October 14, soybean futures have hovered around $10 per bushel.Adding insult to injury, buyers in China have also purchased at least 10 cargoes of soybeans from Argentina, according to Reuters. [3] The cash-strapped nat ...