Soybean, used cooking oil markets brace for more uncertainty as Trump tariffs loom
Prices may suffer, should Beijing – the world’s largest consumer and importer of soybeans – impose retaliatory taxes
UNCERTAINTY reigns across global soybean markets, as traders keep a close eye on how potential trade policies from US President-elect Donald Trump’s administration could impact commodity prices.
Trump has threatened higher levies on Chinese imports, which could escalate into a bruising trade war. And soybean prices could suffer, should Beijing – the world’s largest consumer and importer of soybeans – impose retaliatory tariffs.
On the other hand, analysts said a potential rise in tariffs on used cooking oil (UCO), which has been undercutting soybean oil in biofuel production, could provide some support for soybean prices.
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