Soybeans Slump as Trump Threatens More Tariffs on China Goods

Soybean futures plunged, extending earlier losses, after US President Donald Trump threatened additional tariffs on China’s goods and said there was “no reason” to meet with Chinese President Xi Jingping.

Trump’s social media posts contributed to dimming hopes for a US-China trade accord that could restart stalled American soybean exports, with growers busy harvesting while their top export market remains shut.

Read More: Trump Threatens China Tariffs, Sees ‘No Reason’ to Meet Xi

Chicago soybean futures fell as much as 1.9% to $10.025 a bushel, hitting session lows after the posts. The intraday decline is the biggest since ...