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Wed Jul 11, 2018, 11:36 AM

Trade war fallout: Soybean prices plunge to a 10-year low [View all]

Source: money.cnn.com

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.

The United States imposed a 25% tariff last week on $34 billion worth of Chinese goods. China responded with a tariff on American goods worth an equal amount, including soybeans.

China is the world's largest buyer of American soybeans. Farmers in the United States sell about a third of their harvest there. Soybeans are used both for cooking and for feeding livestock.

Read more: https://money.cnn.com/2018/07/11/news/economy/soybean-prices/index.html



Hey Pence, why don't you let 'em know in Iowa today how "great" all this is!!

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Reply Trade war fallout: Soybean prices plunge to a 10-year low [View all]
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