U.S. Soybean Prices Crumble as Trade War Sparks Brazil Rally
- Cash prices in the U.S. reach lowest in almost a decade
- Premiums for Brazil supplies have more than tripled since May
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Soybean prices in the U.S. and Brazil, the nations that account for roughly 80 percent of global exports, have taken drastically different paths thanks to Donald Trump’s trade war.
In the U.S., average cash prices fell to about $7.79 a bushel this week, the lowest in almost a decade, according to an index compiled by the Minneapolis Grain Exchange. China’s tariffs on American goods including farm products have now taken effect after the U.S. implemented a raft of duties earlier in the day Friday and President Trump threatened more action.