Soybean Prices Plunge to 10-Year Low

Soybean prices have hit a 10-year low, reports CNN Money. The price of a bushel slid to $8.55 on Wednesday, a 13% decline since the beginning of the year.

Prices are falling as a result of the escalating trade war between the United States and China.

Senior administration officials said Tuesday on a call with reporters that agricultural exports are holding up "quite well" under tariffs, and that the administration is taking concerns from the agricultural community "very seriously."

"With respect to the agricultural community, that's a community that understands they're not being treated fairly by China either," one senior official said.