FX.co ★ Soybean Prices Slide Amid Renewed US-China Tensions

Soybean futures have fallen below $10.40 per bushel at the beginning of June, marking their lowest point since May 8. This decline is attributed to growing US-China trade tensions, favorable crop conditions in the US Midwest, and uncertainties related to US biofuel policy. On Monday, Beijing responded to President Trump's assertion that China had "totally violated" the recent trade truce agreed upon in Zurich, accusing the US of "seriously violating" the agreement and announcing its intention to take resolute measures to defend its interests. Additionally, demand has been impacted by reports of the US government considering biofuel mandate exemptions for certain oil refiners.