Trump's threat against China shook the soybean market

Price levels moved in mixed directions over the past week in the commodity markets in America and Europe. In Chicago, wheat became 3.2 percent cheaper, corn 1.4 percent, and soybeans 1.1 percent, while rapeseed increased by 0.4 percent. In Europe, milling wheat became 0.8 percent more expensive, corn 1.2 percent, and rapeseed 1.9 percent, while feed wheat became 0.5 percent cheaper than a week ago. Grain futures prices began to fall after U.S. President Donald Trump posted on the Truth Social social media platform that China is "becoming very unfriendly" and threatens to escalate the trade war and increase tariffs on Chinese goods. As the planned meeting between Trump and Chinese President Xi Jinping in South Korea is at risk, the prospects of a trade agreement that would allow U.S. agricultural exports to return to Chinese shores have dimmed, increasing pressure on grain futures. The SovEcon Black Sea consultancy firm announced that it has increased its forecast for this year's ...