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Tariff Retaliation Weakened the U.S. Soybean Basis

Author

Listed:
  • Adjemian, Michael K.
  • Arita, Shawn
  • Breneman, Vince
  • Johansson, Rob
  • Williams, Ryan

Abstract

China’s retaliatory tariff on soybeans depressed cash prices; increased demand for soybean storage, likely weakening the effectiveness of futures-based hedging strategies; and widened U.S. soybean basis, especially in the Upper Midwest, by effectively shutting off Pacific ports as a major export channel. Alternative foreign markets did not make up the difference.

Suggested Citation

  • Adjemian, Michael K. & Arita, Shawn & Breneman, Vince & Johansson, Rob & Williams, Ryan, 2019. "Tariff Retaliation Weakened the U.S. Soybean Basis," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 34(4).
    • Handle: RePEc:ags:aaeach:301010
    DOI: 10.22004/ag.econ.301010
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    Citations

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    Cited by:

    1. Morgan, Stephen & Arita, Shawn & Beckman, Jayson & Ahsan, Saquib & Russell, Dylan & Jarrell, Philip & Kenner, Bart, 2022. "The Economic Impacts of Retaliatory Tariffs on U.S. Agriculture," USDA Miscellaneous 316892, United States Department of Agriculture.
    2. Goswami, Alankrita & Adjemian, Michael K. & Karali, Berna, 2022. "The impact of futures contract storage rate policy on convergence expectations in domestic commodity markets," Food Policy, Elsevier, vol. 111(C).
    3. Adjemian, Michael K. & Smith, Aaron & He, Wendi, 2021. "Estimating the market effect of a trade war: The case of soybean tariffs," Food Policy, Elsevier, vol. 105(C).
    4. Munisamy Gopinath, 2021. "Does Trade Policy Uncertainty Affect Agriculture?," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 43(2), pages 604-618, June.
    5. Jason H. Grant & Shawn Arita & Charlotte Emlinger & Robert Johansson & Chaoping Xie, 2021. "Agricultural exports and retaliatory trade actions: An empirical assessment of the 2018/2019 trade conflict," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 43(2), pages 619-640, June.

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