Soy Prices Slip from Post-Pandemic Highs

As one of the world’s most traded commodities, soybeans are a critical feature in the global agricultural landscape. Movement in soy futures can influence the stability of different countries: shaping trade policies, impacting diplomatic relations, and determining domestic stability through the movement of key input prices. Countries like the United States, Brazil, and Argentina, which are leading soybean producers, often leverage their production capacity as a significant economic asset, affecting global supply chains and price dynamics. On the other side, major importers like China, whose massive demand for soybeans stems from its vast hog sector, view soybean imports through the geopolitical lens, ascribing the commodity critical importance for food security and agricultural policy. This geopolitical significance was evident during the US-China trade war, as soy was one of the first commodities targeted for sanctions in 2018.


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