The chief US agricultural economist laid out a gloomy picture for the country’s soyabean farmers on Thursday, saying record-high stocks should weigh on prices even if the Trump administration resolves its trade dispute with China.
Robert Johansson, chief economist at the US Department of Agriculture, presented a bearish forecast for US shipments of soyabeans at the agency’s marquee outlook forum on Thursday.
Total shipments of the US-grown oilseeds fell sharply after China hit them with a 25 per cent tariff last July. The trade dispute cost soyabean farmers $7.9bn, Mr Johansson said.
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