China Tariffs Keep U.S. Beans Out of the Game as Palm Oil Rally Crashes BOPO
The headline trade story today is the U.S.–China tariff extension. While both sides agreed to keep 24% duties suspended for another 90 days, the 10% tariff on U.S. soybeans remains firmly in place. That’s enough to keep American beans uncompetitive in China, especially against Brazilian supply, which is moving at a strong seasonal export pace. With U.S. farmers staring at a bumper crop and limited access to their largest historical export market, concerns are rising over prices and storage capacity heading into harvest. Old crop U.S. beans have found some takers elsewhere, but new crop business into China is minimal, leaving exporters facing a challenging demand outlook.
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