Soybean futures aren’t as fungible as one might think.
"For the first time in more than 20 years, Chinese importers have not yet bought soybeans from the autumn U.S. harvest, forcing farmers to store their crops on hopes that prices will eventually rise from around a five-year low. It is a risk that delays their ability to bring in money from crop sales at a time when they face rising costs for everything from labor and energy to fertilizer.
In a sign that hard times are expected to continue in rural America, Trump has promised to give proceeds from tariff revenues to farmers, who largely supported his campaigns for president.
On Thursday, U.S. Treasury Secretary Scott Bessent said the government would make an announcement on Tuesday about support for farmers.
Tit-for-tat tariffs that Washington and Beijing imposed on each other’s goods this year have made U.S. soybeans too expensive for Chinese buyers, leading importers to buy from South America instead.
But alternative markets for U.S. exports are tiny by comparison and have not replaced China, long the world’s biggest importer by far."
No libs were crying “Trump crushed those poor poor soybean farmers.”
Meanwhile I have been saying for years
“Soybeans are fungible. Just like most basic commodities.”
Libs note Trump is “bailing them out”
but their marching orders did not include “Ask questions.”
The parrot was not taught “The US soybean market is one big corporation.”
So they did not say that (parrots only say what they are taught to say.) Instead they say exactly precsiely what they read in the MSM.
This is some kind of logic. Someone else’s fault always. It’s not the trade war if it is the. It doesn’t matter and also libs suck. Keep on trucking free market
It doesn’t matter that they have to store their beans and not sell them this year because the silos themselves are fungible. Or fungus. I forget. Anyway, libs, stop crying. Free market.
