U.S. Soybeans Plunge with Renewed Trade Fears
Futures plunged to 9 1/2-month lows on Wednesday
U.S. soybean futures plunged to 9 1/2-month lows on Wednesday, after a media report renewed fears that China could hit U.S. soybeans with retaliatory tariffs if Washington follows through on threats to slap duties on Chinese goods, traders and analysts said.
Reuters reports President Donald Trump “is expected to impose tariffs on Chinese goods as soon as Friday or next week,” according to a story published late Tuesday by news outlet Politico.
The report rattled grains markets on Wednesday, as grain futures have been whipsawed by fears of a trade war between the world’s top two economies and by worsening trade ties between the United States and traditional allies Mexico, Canada and the European Union.
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