TOKYO — The soybean market remains bearish due to concerns that the U.S.-China trade spat could kick up a gear when U.S. President-elect Donald Trump is inaugurated in two weeks, as China’s higher tariffs could lower demand for a U.S. export already in ample supply.
Soybeans were among the commodities clearly affected by the trade war during Trump’s first term. The market’s fundamentals are swayed by the two players — the U.S., the world’s major producer, and China, the biggest importer. Prices are being pressured by expectations that trade tensions will deepen under Trump 2.0.
