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Trump Trade Tweets Send Grain Markets Diving to 42-Year Low

  • Hope fades for quick end to China’s crippling crop tariffs
  • Agriculture markets already suffering from swollen stockpiles
China to Propose $30 Billion More U.S. Agriculture Purchases

Photographer: Daniel Acker/Bloomberg

Updated on

Soybean and corn futures slumped after tweets from Donald Trump that threaten an escalation of the U.S.-China trade war, frustrating battered American producers hoping for a quick resolution.

The Bloomberg Grains Subindex Total Return tumbled to the lowest since 1977. The prospect of an end to the crippling tariffs that Beijing imposed on U.S. soy, corn and wheat exports was one of the few positives for American agriculture markets. China’s foreign ministry said that officials were still planning to travel to the U.S. for the next round of trade talks -- but was unable to confirm when amid signs that a delay is now being considered.