A Complicated Scenario for U.S. Soybeans

China responded to the U.S. trade skirmish by matching the 34 percent tariff announced by the United States last Wednesday. That’s on top of the tariffs China already had in place. NDSU Extension Crops Economist Frayne Olson said that was more than had been expected, which complicates the situation for soybean exports. “It will be challenging to try and find an alternative market for our whole soybeans.” In Friday’s NDSU ag market outlook webinar, Olson was asked about crop input costs. Ag retailers have most of the fertilizer on hand, but more product will be needed to finish the spring season. “Those are obviously the tons that we’re concerned about,” said Olson. “Will those go up in price? The answer is it depends; a lot of that comes down to the local competition.”