Soybeans are lower on profit taking and technical selling, put still posting week to week gains. China’s tariff cuts went into effect Friday, the 30-day implementation period for Phase One ends Saturday, and expectations are for China to start issuing tariff waivers soon. That’s because the tariff on U.S. beans will remain at 27.5%, allowing Brazil to maintain some degree of a competitive advantage. Brazil’s soybean sales to China are expected to fall because of the Phase One agreement and coronavirus, with estimates ranging from 2% to nearly 20%.
Continue reading Soybeans down, still up on week at Brownfield Ag News.
