June has been a volatile month for soybean markets and commodity markets in general.
As news broke how China planned to proceed with tariffs on U.S. agricultural products such as soybeans and orange juice, soybean prices tanked. During the trade on Tuesday, soybean prices dropped 40 cents.
It’s not solely China that’s creating volatility in the markets. Last week, Commerce Secretary Wilbur Ross testified to Congress in regard to the tariff situation. After visiting with farmers in North Dakota, Ross said it’s not just China or the tariffs, but speculative money in the markets as well.