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Soybeans, corn waiting for potential trade policy changes
The soybean and corn futures markets are taking a wait and see attitude towards trade policy changes under the second Trump administration.
Allendale’s chief strategist Rich Nelson tells Brownfield there are more questions right now than answers about tariffs, “We obviously understand there’s a lot of campaign rhetoric which suggests a lot of trade disruptions and tariff talk – we’re not quite sure how much of that would actually be realistic.”
Nelson says one potential tariff could be favorable to domestic soybean crush demand, “U.S. ag would like to say well, let’s talk some bullish discussions with soybeans, with some tariffs possibly reining in imports of cooking oil into the U.S.”
Nelson says it will be quite some time until either of those scenarios comes to fruition.
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