Brazilian soy future dwindles with trade war
Jun, 21, 2019 Posted by datamarnewsWeek 201926
Brazilian soybean prices fell last week after US President Donald Trump signaled on Twitter that trade tensions between the United States and China may decline again, opening up the possibility for tariffs to be removed between the two countries.
Had a very good telephone conversation with President Xi of China. We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting.
— Donald J. Trump (@realDonaldTrump) June 18, 2019
Trump and Chinese President Xi Jinping are expected to resume trade talks at the next G20 summit.
If trade negotiations between the two countries thrive, American soybeans could be exported to China later this year, creating strong competition for Brazilian soybeans, which are currently sold at a high price. China imported a large volume of Brazilian soy in early June after trade negotiations with the United States failed.
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