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New crop soybean prices might benefit from trade chats
An extension ag economist says the recent U.S. and China trade agreement-in-principle could have a greater impact on new crop soybean prices.
“The soybean market didn’t necessarily react too strongly to the news of a pause this week, because largely, we’re still in a period of not selling a lot of U.S. soybeans.”
Ben Brown at the University of Missouri tells Brownfield the 90-day trade talk window ends in August and if talks between the two countries don’t look favorable then…
“That could start weighing on the soybean market,” he says. “If they’re looking favorable, like it could be resolved at the start of the export window, that could be very positive for the soybean market.”
Brown says there haven’t been large soybean export sales reported lately, but that’s seasonal.
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