Tariffs
Farmers await concrete trade commitments from China. Until then, export prospects for soybeans, corn, and sorghum remain uncertain against strong South American competition.
China will reduce its tariffs from 125% to 10%. In return, the U.S. will lower tariffs on most Chinese goods from 145% to 30%.
NCBA is not historically in favor of tariffs, but sees them as a necessary tool in the current environment.
Recent trade action could really begin to show up.
