Soybeans under $50,000 per contract.

[ZenOps]

https://www.indexmundi.com/commodities/?commodity=soybeans

136 tons of soybeans just hit a new low @ $343 per ton. Although you can't really buy in that small a quantity.

US farmers are complaining that tariffs are killing them.

[speedog]

Where did you read anything about 136 tons?

Edit: One has to click further into the site to figure out the 136 ton thing.

[ZenOps]

Technically they quote a single contract of soybean as 5,000 bushels - but no one in todays world knows what a bushel is, other than the farmer.

It is possible to buy just one contract, but more than likely you probably are looking at hundreds if not thousands of contracts if even considering buying commodities.

Many commodities traders don't even bother quoting US dollars, but simple contract swaps (1 soybean contract for 2 rice contracts - etc.)

Nickel to Soybean ratio? Soybeans are the better buy, and I rarely deviate from nickel. But you never have to risk spoilage with nickel. Nickel is also sometimes used as the "buy in" instead of gold (especially after what happened to Khadafi)

And on a side note: $100,000 student debt does actually equate to 272 tons of soybeans in the real world. Education to soybean ratio? Soybeans again.

[ZenOps]

https://www.reuters.com/article/us-usa-trade-china-soybeans/u-s-soybean-cargo-enters-chinese-port-after-weeks-at-anchor-amid-trade-row-idUSKBN1KX01G

"The short journey into the northern Chinese port was the first by Peak Pegasus, which has 70,000 tonnes of U.S. soybeans on board, since it arrived off the coast on July 6 shortly after Beijing imposed 25 percent import duties on $34 billion worth of U.S. goods, including soybeans."

First big shipment to incur the 25% tariff, they actually waited an extra month in the ocean to try and wait out low soybean prices to offload. Spoilage is definitely a risk for anything on the ocean.

And I will add this: To those that say that China would never go so far as to outright ban US soybeans, just remember that China banned having a second child. Will the USA ever someday ban a second child? We shall see.

[phreezee]

The great tofu famine of 2018?

[schurchill39]

Its amazing that you can guess who started the thread just based on the title. I wish there was some sort of point system because I am starting to get really good at this game

[ZenOps]

I'm just glad they managed to offload.

If they were forced to dump 70,000 tonnes of soybean into the ocean - it could actually be seen as an escalation of real war. Boston tea party.