Pelosiís Taiwan visit bearish for soybeans

 

By Mark Dorenkamp, Brownfield

August 3, 2022

 

Speaker Pelosiís visit to Taiwan is the latest geopolitical issue to influence commodity prices.

 

CHS Hedging director of producer brokerage Kent Beadle says it appears China is retaliating to Pelosiís visit by canceling shipments of U.S. soybeans.

 

ďWe heard rumors today that there were a couple of cargoes that ended up trading out of Brazil that couldíve traded out of the U.S. So that was the Chinese just showing their displeasure with the activity that occurred.Ē

 

He tells Brownfield soybean futures responded negatively, but itís unlikely the retaliation will continue...

 

more, including audio [17:25 min.]

https://brownfieldagnews.com/news/pelosis-taiwan-visit-bearish-for-soybeans/