Agri Commodities Preview: Soybean Market Hit On Global Trade Warfare

Global Soybean markets are on edge following the escalating trade war between US and China. China fired a fresh salvo at the US yesterday, slapping an aggressive 25% retaliatory tariff against U.S. soybeans, USs most valuable export to China last year. US government data shows China now purchases around 60% of total US soy exports. The Chicago Soybean tumbled nearly five percent in intraday moves yesterday, testing around two month low before ending down 2%.