The ag sector is keeping a close eye on Brazil trade developments, with a sweeping 50 percent tariff set to take effect next month. And with the US being a main beef market for the country, many are speculating over the potential impact.
Steve Sothmann with DTB AgriTrade joined us on “Market Day Report” for a closer look.
Related Stories
Analysts say drought, tight cattle supplies and summer grilling demand continue shaping the protein market outlook.
Soybeans accounted for nearly half of the $15 billion in losses on U.S. ag exports to China due to tariffs, according to researchers at North Dakota State University.
USDA says growing soybean output and expanding biofuel demand are helping drive the increase.
Industry leaders say restored access is a major step forward, though exports remain well below previous levels.