When Tariffs Last Bloomed – Soybean Edition

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Or, have US soybean exports recovered since Trump last reigned? Not in volumes.

Source: Colusi, et al. (2024). Marking for trade war in 2018 by author.

2023 exports are below 2017 levels. USDA forecast for 2024/25 marketing year (9/1/24-8/31/25) is 1.875 bn bushels, vs 1.6 bn bushels for 2023/24, or about 17% increase.

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