Global oilseed market: Trade war escalation severely hits the market, $10 threshold at risk of breach

On Friday, October 10, the Chicago Board of Trade (CBOT) November soybean futures closed at $10.0675 per bushel, down 1.1% from the previous week; the spot price of No. 1 soybeans in the U.S. Gulf averaged $10.8425 per bushel, down 0.2%. December soybean meal closed at $275 per short ton, down 1.3%; December soybean oil closed at 49.97 cents per pound, down 0.2%; Euronext November rapeseed futures closed at €466.50 per ton, up 1.9%; ICE Futures Canada November canola futures closed at CAD 622.6 per ton, up 0.7%; and the spot price of Argentine Parana River soybeans on a FOB basis was $406 per ton (including a 33% export tax), up 0.2%. On Friday, the ICE U.S. Dollar Index closed at 98.732 points, up 1.4% from the previous week. Over the past week, Chicago soybean futures quickly turned from a mid-week rebound to a unilateral decline. On Friday, U.S. President Trump announced an additional 100% tariff on Chinese goods starting November 1 and considered canceling the planned meeting ...