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Canadian soybean farmers are losing money as US soybean prices fell to about 8.50 dollars a bushel, down nearly 20 percent since late May, after China's 25 percent tariff on US soybeans. Canadian prices follow US futures, and a weaker Canadian dollar has only partly offset the drop.
Analysts say China has crashed the price.
Lower US soybean futures set the benchmark for Canadian and US soybean prices and reduce the cost of soybean meal inputs for feed makers. The decline reflects lost Chinese demand for US beans.
financialpost.comNaomi PowellJul 10, 2018financialpost.comNaomi PowellJul 10, 2018After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
