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Tariff impact reflected in supply and demand report

The impact of China’s retaliatory tariffs was reflected in the latest supply and demand report from the USDA.

USDA Chief Economist Rob Johansson says soybeans have been negatively impacted.

“Exports of whole beans is done by about 250 million  bushels,” he says.

The USDA says pork trade forecasts are unchanged despite an increase in production at a time when tariffs are in place.

Johannsson says lower prices are helping to…

“Increased demand for pork across global consumers,” he says.

The next WASDE report will be out August 10.