Trade Wars Have Casualties. Too: Soybean Prices Crash To Decade Low

Soybean futures fell 25% in 50 weeks since the inception of President Trump's trade war early last summer.

CBOT Soybeans futures plunged to their lowest level in a decade as China on Monday said it would raise tariffs on $60 billion in US goods in retaliation for Trump's decision on Friday to raise duties on $200 billion in Chinese products to 25% from 10%. The deepening trade war has pushed American farmers onto the verge of disaster.

 

 

 

 

 

 

 

 

 

https://www.zerohedge.com/news/2019-05-14/farm-crisis-soybeans-crash-decade-low-trade-war-intensifies

David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.