Already have an account? log in
This article is FREE for you
Create a free account and join institutional investors, analysts and strategists from the world's largest banks
By submitting your email address you agree to receive communication by email
War And (No) Peace: Full Week Ahead Preview
If you were worried about an imminent escalation in the Syria conflict after the Bashar al-Assad reg
OR, subscribe now for unlimited access
By submitting your email address you agree to receive communication by email
By submitting your email address you agree to receive communication by email
Per the note out by Yra Harris, former CME chair, last week China re-sourced 100% replacement for US bean and soy meal from Brazil who has just wrapped a bumper crop with produce in the bins and ready to ship to China for the year. Apparently China excluded grains from the first round of tariffs until it had negotiated and signed up Brazil as its new source. China will be buying ZERO from US for at least a year no matter what happens now. This is a big economic boost for Brazil, whose economy has been bad for 2-3 years as grains are in a glut globally with grain yields soaring worldwide on the back of better agri tech. Devastating for US farmers and the US midwest economy as it’s impossible to suddenly replace a market of one-and-a-half billion people.
Reportedly, that represents 70% of the US bean market…. now gone.