Chinese demand for U.S. soybeans will not quickly recover, an analysis by a London commodities economist found, underscoring fears among Midwest farmers that the effects of animal disease and the trade war will linger into 2020, reports the Star Tribune.
Caroline Bain, chief commodities economist for Capital Economics, forecast this week that the price of U.S. soybeans will drop in 2020 by about 40 cents to $8.50/bushel.
When President Trump launched the trade war with China in the summer of 2018, soybean prices dropped from about $10.40/bushel to under $9/bushel. Prices haven’t risen much above $9 since.
