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

2

1
A

B

A
12/2018

01/2019

03/2019
12/2018

02/2019

04/2019
210 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

01/2019
12/2018

02/2019
400 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

03/2019
12/2018

04/2019
400 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

05/2019
12/2018

06/2019
450 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

07/2019
12/2018

07/2019
475 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

08/2019
12/2018

08/2019
550 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

09/2019
12/2018

09/2019
650 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

10/2019
12/2018

11/2019
700 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

12/2019
12/2018

12/2019
800 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

01/2020
12/2018

02/2020
825 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

03/2020
12/2018

04/2020
900 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

05/2020
12/2018

06/2020
950 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

07/2020
12/2018

07/2020
1,050 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

08/2020
12/2018

08/2020
1,050 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

09/2020
12/2018

09/2020
1,050 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2018

10/2020
12/2018

12/2021
1,050 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

03/2019
02/2019

04/2019
230 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
01/2019

03/2019

05/2019
02/2019

04/2019

06/2019
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

05/2019
02/2019

06/2019
375 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

07/2019
02/2019

07/2019
400 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

08/2019
02/2019

08/2019
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

09/2019
02/2019

09/2019
550 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

10/2019
02/2019

11/2019
625 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

12/2019
02/2019

12/2019
750 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

01/2020
02/2019

02/2020
750 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

03/2020
02/2019

04/2020
850 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

05/2020
02/2019

06/2020
900 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

07/2020
02/2019

07/2020
1,000 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

08/2020
02/2019

08/2020
1,000 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

09/2020
02/2019

09/2020
1,000 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2019

10/2020
02/2019

12/2021
1,000 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2019

05/2019
04/2019

06/2019
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
03/2019

05/2019

07/2019
04/2019

06/2019

07/2019
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2019

07/2019
04/2019

07/2019
315 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2019

08/2019
04/2019

08/2019
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2019

09/2019
04/2019

09/2019
450 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2019

10/2019
04/2019

11/2019
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2019

12/2019
04/2019

12/2019
600 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2019

01/2020
04/2019

02/2020
650 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2019

03/2020
04/2019

04/2020
700 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2019

05/2020
04/2019

06/2020
700 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2019

07/2020
04/2019

07/2020
900 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2019

08/2020
04/2019

08/2020
900 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2019

09/2020
04/2019

09/2020
900 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2019

10/2020
04/2019

12/2021
900 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2019

07/2019
06/2019

07/2019
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
05/2019

07/2019

08/2019
06/2019

07/2019

08/2019
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2019

08/2019
06/2019

08/2019
275 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2019

09/2019
06/2019

09/2019
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2019

10/2019
06/2019

11/2019
460 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2019

12/2019
06/2019

12/2019
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2019

01/2020
06/2019

02/2020
550 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2019

03/2020
06/2019

04/2020
650 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2019

05/2020
06/2019

06/2020
725 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2019

07/2020
06/2019

07/2020
800 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2019

08/2020
06/2019

08/2020
825 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2019

09/2020
06/2019

09/2020
850 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2019

10/2020
06/2019

12/2021
850 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
07/2019

08/2019

09/2019
07/2019

08/2019

09/2019
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2019

08/2019
07/2019

08/2019
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2019

09/2019
07/2019

09/2019
340 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2019

10/2019
07/2019

11/2019
420 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2019

12/2019
07/2019

12/2019
520 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2019

01/2020
07/2019

02/2020
600 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2019

03/2020
07/2019

04/2020
650 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2019

05/2020
07/2019

06/2020
725 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2019

07/2020
07/2019

07/2020
825 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2019

08/2020
07/2019

08/2020
850 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2019

09/2020
07/2019

09/2020
850 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2019

10/2020
07/2019

12/2021
720 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

09/2019
08/2019

09/2019
320 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
08/2019

09/2019

10/2019
08/2019

09/2019

11/2019
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

10/2019
08/2019

11/2019
430 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

12/2019
08/2019

12/2019
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

01/2020
08/2019

02/2020
550 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

03/2020
08/2019

04/2020
650 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

05/2020
08/2019

06/2020
700 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

07/2020
08/2019

07/2020
800 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

08/2020
08/2019

08/2020
850 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

09/2020
08/2019

09/2020
850 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2019

10/2020
08/2019

12/2021
675 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2019

10/2019
09/2019

11/2019
240 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
09/2019

10/2019

12/2019
09/2019

11/2019

12/2019
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2019

12/2019
09/2019

12/2019
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2019

01/2020
09/2019

02/2020
425 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2019

03/2020
09/2019

04/2020
525 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2019

05/2020
09/2019

06/2020
625 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2019

07/2020
09/2019

07/2020
750 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2019

08/2020
09/2019

08/2020
790 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2019

09/2020
09/2019

09/2020
790 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2019

10/2020
09/2019

12/2021
790 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
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

03/2020
11/2019

04/2020
325 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

05/2020
11/2019

06/2020
450 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

07/2020
11/2019

07/2020
560 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

08/2020
11/2019

08/2020
600 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

09/2020
11/2019

09/2020
600 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
10/2019

10/2020
11/2019

12/2021
600 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

01/2020
12/2019

02/2020
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
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

07/2020
12/2019

07/2020
450 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

08/2020
12/2019

08/2020
525 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

09/2020
12/2019

09/2020
550 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
12/2019

10/2020
12/2019

12/2021
600 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

03/2020
02/2020

04/2020
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
350 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

08/2020
02/2020

08/2020
450 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

09/2020
02/2020

09/2020
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
01/2020

10/2020
02/2020

12/2021
500 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

05/2020
04/2020

06/2020
205 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
03/2020

05/2020

07/2020
04/2020

06/2020

07/2020
230 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
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

09/2020
04/2020

09/2020
325 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
03/2020

10/2020
04/2020

12/2021
475 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
05/2020

07/2020

08/2020
06/2020

07/2020

08/2020
260 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

07/2020
06/2020

07/2020
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

08/2020
06/2020

08/2020
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

09/2020
06/2020

09/2020
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
05/2020

10/2020
06/2020

12/2021
325 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
07/2020

08/2020

09/2020
07/2020

08/2020

09/2020
260 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
07/2020

08/2020
07/2020

08/2020
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

12/2021
300 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

2

1
A

B

A
08/2020

09/2020

10/2020
08/2020

09/2020

12/2021
260 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2020

09/2020
08/2020

09/2020
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
08/2020

10/2020
08/2020

12/2021
250 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
A

B
09/2020

10/2020
09/2020

12/2021
200 USD
CBT AGRICULTURE SOYBEAN MEAL 06 1

1
B

A
10/2020

10/2020
12/2021

12/2021
250 USD