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Soybean market looking for China deal as harvest looms
An agricultural economist with Advance Trading says the soybean market is watching for signs of a new trade deal with China.
Brian Basting tells Brownfield the potentially large 2025 crop needs a home.
“We have concerns that our September, October, and November soybean shipments could come under some pressure if we do not get a deal struck with China very soon here.” He says, “I think the market is starting to build in some concern about that with the November futures barely now holding above $10 a bushel.”
He says continued uncertainty with the nation’s largest soybean buyer means producers need to incorporate flexibility into their marketing plans.
“Keeping a floor underneath your expected production but also leaving that upside open in case maybe the yields aren’t quite as good as we thought.” He says, “Maybe we do strike some favorable trade deals for agriculture here in the next several weeks.”
President Trump’s latest tariff deadline for a new China deal is August 12th.
AUDIO: Brian Basting – Advance Trading
Tags: Advance Trading, ag policy, Brian Basting, China, Commodities, Crops, marketing plan, Soybean futures, soybean market, soybean market outlook, Soybeans, tariffs, Trade, Trade Deal