Spotlight: How Trade Wars May Affect Ags Markets

Trade War Repercussions for U.S. Agriculture

The rest of the world, from China to Europe to Canada and Mexico, responds to U.S. tariffs with tit-for-tat increases on U.S. exports.

Asset Class Navigation

Soybean Meal Margins

Ratio Side Start Period End Period Maintenance
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

10/2019
09/2019

11/2019
325 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
08/2019

10/2019

12/2019
09/2019

11/2019

12/2019
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

12/2019
09/2019

12/2019
325 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

01/2020
09/2019

02/2020
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

03/2020
09/2019

04/2020
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

05/2020
09/2019

06/2020
400 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

07/2020
09/2019

07/2020
450 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

08/2020
09/2019

08/2020
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

09/2020
09/2019

09/2020
550 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

10/2020
09/2019

11/2020
575 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

12/2020
09/2019

12/2020
600 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

01/2021
09/2019

02/2021
650 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

03/2021
09/2019

04/2021
700 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

05/2021
09/2019

06/2021
750 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

07/2021
09/2019

07/2021
750 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

08/2021
09/2019

12/2022
750 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

12/2019
11/2019

12/2019
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
10/2019

12/2019

01/2020
11/2019

12/2019

02/2020
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

01/2020
11/2019

02/2020
275 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

03/2020
11/2019

04/2020
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

05/2020
11/2019

06/2020
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

07/2020
11/2019

07/2020
400 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

08/2020
11/2019

08/2020
450 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

09/2020
11/2019

09/2020
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

10/2020
11/2019

11/2020
550 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

12/2020
11/2019

12/2020
575 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

01/2021
11/2019

02/2021
650 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

03/2021
11/2019

04/2021
600 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

05/2021
11/2019

06/2021
700 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

07/2021
11/2019

07/2021
700 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

08/2021
11/2019

12/2022
700 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

01/2020
12/2019

02/2020
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
12/2019

01/2020

03/2020
12/2019

02/2020

04/2020
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

03/2020
12/2019

04/2020
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

05/2020
12/2019

06/2020
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

07/2020
12/2019

07/2020
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

08/2020
12/2019

08/2020
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

09/2020
12/2019

09/2020
400 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

10/2020
12/2019

11/2020
475 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

12/2020
12/2019

12/2020
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

01/2021
12/2019

02/2021
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

03/2021
12/2019

04/2021
600 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

05/2021
12/2019

06/2021
600 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

07/2021
12/2019

07/2021
600 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

08/2021
12/2019

12/2022
600 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

03/2020
02/2020

04/2020
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
01/2020

03/2020

05/2020
02/2020

04/2020

06/2020
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

05/2020
02/2020

06/2020
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

07/2020
02/2020

07/2020
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

08/2020
02/2020

08/2020
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

09/2020
02/2020

09/2020
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

10/2020
02/2020

11/2020
400 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

12/2020
02/2020

12/2020
475 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

01/2021
02/2020

02/2021
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

03/2021
02/2020

04/2021
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

05/2021
02/2020

06/2021
575 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

07/2021
02/2020

07/2021
600 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

08/2021
02/2020

12/2022
600 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
03/2020

05/2020

07/2020
04/2020

06/2020

07/2020
220 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

05/2020
04/2020

06/2020
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

07/2020
04/2020

07/2020
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

08/2020
04/2020

08/2020
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

09/2020
04/2020

09/2020
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

10/2020
04/2020

11/2020
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

12/2020
04/2020

12/2020
400 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

01/2021
04/2020

02/2021
475 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

03/2021
04/2020

04/2021
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

05/2021
04/2020

06/2021
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

07/2021
04/2020

07/2021
575 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

08/2021
04/2020

12/2022
600 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

07/2020
06/2020

07/2020
205 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
05/2020

07/2020

08/2020
06/2020

07/2020

08/2020
220 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

08/2020
06/2020

08/2020
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

09/2020
06/2020

09/2020
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

10/2020
06/2020

11/2020
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

12/2020
06/2020

12/2020
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

01/2021
06/2020

02/2021
400 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

03/2021
06/2020

04/2021
475 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

05/2021
06/2020

06/2021
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

07/2021
06/2020

07/2021
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

08/2021
06/2020

12/2022
575 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2020

08/2020
07/2020

08/2020
175 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
07/2020

08/2020

09/2020
07/2020

08/2020

09/2020
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2020

09/2020
07/2020

09/2020
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2020

10/2020
07/2020

11/2020
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2020

12/2020
07/2020

12/2020
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2020

01/2021
07/2020

02/2021
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2020

03/2021
07/2020

04/2021
400 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2020

05/2021
07/2020

06/2021
475 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2020

07/2021
07/2020

07/2021
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2020

08/2021
07/2020

12/2022
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2020

09/2020
08/2020

09/2020
175 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
08/2020

09/2020

10/2020
08/2020

09/2020

11/2020
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2020

10/2020
08/2020

11/2020
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2020

12/2020
08/2020

12/2020
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2020

01/2021
08/2020

02/2021
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2020

03/2021
08/2020

04/2021
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2020

05/2021
08/2020

06/2021
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2020

07/2021
08/2020

07/2021
475 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2020

08/2021
08/2020

12/2022
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
09/2020

10/2020

12/2020
09/2020

11/2020

12/2020
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2020

10/2020
09/2020

11/2020
175 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2020

12/2020
09/2020

12/2020
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2020

01/2021
09/2020

02/2021
225 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2020

03/2021
09/2020

04/2021
275 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2020

05/2021
09/2020

06/2021
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2020

07/2021
09/2020

07/2021
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2020

08/2021
09/2020

12/2022
475 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
10/2020

12/2020

01/2021
11/2020

12/2020

02/2021
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2020

12/2020
11/2020

12/2020
175 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2020

01/2021
11/2020

02/2021
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2020

03/2021
11/2020

04/2021
225 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2020

05/2021
11/2020

06/2021
275 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2020

07/2021
11/2020

07/2021
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2020

08/2021
11/2020

12/2022
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2020

01/2021
12/2020

02/2021
175 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
12/2020

01/2021

03/2021
12/2020

02/2021

04/2021
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2020

03/2021
12/2020

04/2021
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2020

05/2021
12/2020

06/2021
225 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2020

07/2021
12/2020

07/2021
275 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2020

08/2021
12/2020

12/2022
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
01/2021

03/2021

05/2021
02/2021

04/2021

06/2021
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2021

03/2021
02/2021

04/2021
175 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2021

05/2021
02/2021

06/2021
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2021

07/2021
02/2021

07/2021
225 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2021

08/2021
02/2021

12/2022
275 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
03/2021

05/2021

07/2021
04/2021

06/2021

07/2021
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2021

05/2021
04/2021

06/2021
175 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2021

07/2021
04/2021

07/2021
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2021

08/2021
04/2021

12/2022
225 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
05/2021

07/2021

08/2021
06/2021

07/2021

12/2022
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2021

07/2021
06/2021

07/2021
175 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2021

08/2021
06/2021

12/2022
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2021

08/2021
07/2021

12/2022
175 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
B

A
08/2021

08/2021
12/2022

12/2022
250 USD