Today, CBoT soybean futures prices are under pressure as political tensions between the US and China increase.
After the riots on the streets of Hong Kong last year, China today announced that it will introduce a security law for the Special Administrative Region. US President Donald Trump responded immediately and today announced "very strong" reactions to China should Beijing gain control of the former British colony.
Tuesday's last USDA weekly report reported US soybean exports to China of 1.669 million tonnes. More than market participants had expected. Orders of 1.199 million tons followed. After that, however, no further sales were confirmed.
Official sources in China said that a new escalation with the United States would not be avoided. This would also affect US farmers.
Source
Hansa Terminhandel GmbH
