America's soybean farmers are hanging onto their crops in an attempt to wait out President Trump's trade war with China, more than doubling U.S. soybean inventories, reports Bloomberg.
The big picture: Retaliatory tariffs have drastically pushed down demand for American soybeans in China, easily the crop's largest market, with imports down by nearly 90%. And prices have fallen, too, as a bushel of soybeans now trades for less than $9 compared to more than $11 earlier in the year.