ND ag bankers riding the 'black swan': Soy tariff damage will last up to 5 years, economist says
FARGO — Ag bankers should brace for a "long" ride on a black swan — an unpredictable, unforeseen event with extreme consequences.
The period of soybean price reductions due to the Chinese trade war, initiated by the Donald Trump administration, will have a "long" effect, says a North Dakota State University distinguished professor of agricultural economics.
William Wilson, who consults with agricultural entities worldwide, spoke Sept. 27 at the annual North Dakota Bankers Association's Ag Credit Conference in Fargo at the Holiday Inn.
The average basis for soybeans heading to the Pacific Northwest ports this time of year about $1.30 per bushel on soybeans — that's a premium value over the Chicago Mercantile Exchange price, indicating demand. "Today? Forty (cents). Or, none."
Read more: http://www.wctrib.com/business/agriculture/4509916-nd-ag-bankers-riding-black-swan-soy-tariff-damage-will-last-5-years