Soybeans were mixed on commercial spread adjustments, with nearby contracts up and deferred months down. The most active months managed to buy back a portion of the recent losses. China is lowering the tariff on U.S. beans slightly, from 30% to 27.5%, but buyers will still need a waiver, with U.S. beans priced above Brazilian supplies. China’s lower tariffs on beans and other U.S. ag goods goes into effect February 14th. China has reportedly purchased beans from Brazil recently, with that nation expected to produce a record crop, and the spread of coronavirus is contributing to the demand uncertainties.
Continue reading Corn, wheat finish Friday modestly higher at Brownfield Ag News.
