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Trump CONFIRMS Tariff Plans: Soybean Prices at Risk??

Trump CONFIRMS Tariff Plans: Soybean Prices at Risk??

FromGrain Markets and Other Stuff


Trump CONFIRMS Tariff Plans: Soybean Prices at Risk??

FromGrain Markets and Other Stuff

ratings:
Length:
12 minutes
Released:
Feb 6, 2024
Format:
Podcast episode

Description

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links-Apple PodcastsSpotifyGoogleTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.Futures and options trading involves risk of loss and is not suitable for everyone.0:00 Intro1:01 Tariff Plans4:58 Brazil and Argentina Update8:43 Shipment Update9:39 Flash Sale10:25 Tyson Earnings and CattleFormer President Trump has hinted at imposing substantial tariffs on Chinese goods if he is reelected, specifically mentioning tariffs of 60% or more during a recent Fox News interview. Trump believes that such tariffs are necessary because he perceives that China has taken advantage of the United States. During his previous term, Trump's administration implemented tariffs on a wide range of Chinese imports, amounting to a significant tax increase. These tariffs led to retaliatory measures from China, affecting US exports such as poultry, wheat, and soybeans. It's important to note that discussions around potential policy changes can impact markets, and we aim to provide objective information without taking a political stance. ??????Meanwhile, Brazil's soybean harvest continues to progress, with 16% of the crop harvested as reported by AgRural. The group projects this season's soybean crop to reach 150.1 million tons. Additionally, 27% of Brazil's second corn crop in the south-central region has been planted, marking a notably swift planting pace, according to AgRural.US soybean shipments showed improvement last week, with 1.4 million metric tons (52 million bushels) inspected for export during the week ending February 1. This figure exceeded expectations and marked a 56% increase compared to the previous week. However, it was still down by 25% compared to the same week last year. Conversely, corn shipments fell below pre-report estimates, declining by 32% compared to the prior week at 624,295 metric tons (25 million bushels). Wheat shipments were soft, down 6.2% compared to the previous week and 55% lower than the same week last year, totaling 266,269 metric tons (10 million bushels).Tyson Foods' stock surged by 2% on Monday following the company's fiscal first-quarter results, which exceeded profit projections. Tyson reported sales of $13.32 billion, up from $13.26 billion the previous year. Beef sales rose to $5 billion, although the beef sector faced an adjusted operating loss of $117 million, primarily attributed to the rapid deterioration of cattle futures during the quarter. Tyson's CEO also noted a lack of significant heifer retention for rebuilding the US cattle herd. ????
Released:
Feb 6, 2024
Format:
Podcast episode

Titles in the series (100)

Joe Vaclavik discusses the grain markets, the business of farming, news related to agriculture, and a variety of other topics.