Bloomberg has reported on the expected result of tariffs taking effect Friday, July 6, the cancellation of U.S. Soy shipments by China. So far China has not taken delivery of the 1.14 million metric tons of U.S. Soybeans it booked for the marketing year that ends on Aug. 31, and Chinese investment firms have threatened to cancel or resell shipments because of the tariff rate.
Experts don’t expect Chinese soybean crushers to take any more shipments from the U.S. after the tariff is enacted. Though crushers have record inventory and have increased purchases from Brazil, a shortage of supplies will service in the fourth quarter of this year.
