China's response to tariffs Donald Trump weighed heavily on soybean futures traded on the Chicago Stock Exchange and oilseed prices lost more than 20 points on Friday morning (4), even causing the US$ 10.00 per bushel level to be lost.
Thus, at around 8:30 am (Brasília time), the lows ranged from 26 to 27.75 points, bringing the May contract to US$ 9.84 and the August contract to US$ 9.98 per bushel. The September contract was already trading at US$ 9.84 per bushel as well.
Beijing announced on Friday a tariff of 34% on imports of products from the United States. The measure will come into effect next Thursday, April 10. The market's reaction was immediate. Not only soybean futures fell, but also soybean derivatives — with oil standing out, which plunged more than 3% again today. In addition, corn and wheat also recorded declines.
In New York, soft commodities follow the same trend. Losses are once again led by cotton, which is down almost 5%.
Oil is another negative highlight, with a drop of more than 7%, taking Brent to US$ 65.03 per barrel. At the same time, the dollar index lost 0.02% to 101.750 points.
Source: Carla Mendes | Notícias Agrícolas
