On Tariff Anniversary, Soybean Farmers Are Struggling Even as Prices Recover
- Duties on soy, other U.S. farm goods took effect July 6, 2018
- ‘What progress have we made in the 12-month period?’
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Soybean prices have regained the ground lost since China imposed tariffs on U.S. farm goods. For growers, a recovery could take years.
Saturday marks the anniversary of those tariffs taking effect. While Chicago futures are back above levels of 12 months ago, they are still well below prices before U.S.-China trade tensions began escalating, and recent gains were driven by record rain that disrupted planting. Now, a disease that’s forced the culling of millions of soy-eating hogs in China further clouds demand.