and with the trade war in full swing we take a look at commodities with an emphasis on a major u.s. ag export soybeans we'll be joined from missouri by rylan miles further from i.h.s. market all that ahead but first let's get to a few stories topping today's headlines dramatic news is on the way and it's breaking today on the future of europe as the u.k. brecht minister david davis and the foreign minister boris johnson have both resigned within twenty four hours davis' resignation was prompted by british prime minister trace of maize unwilling to enter into a soft plan the so-called checkers plan which would leave the u.k. in the european union's customs union and the single market the proposal was unveiled in a cabinet meeting on friday in his resignation letter mr davis recognized may's parag attempt to set policy but wrote that the british national interest requires quote an enthusiastic believer in your approach and not merely a reluctant conscript a hard advocate at the department of extending the european union quickly follow

davis and brooks that backers then press mr johnson a prominent rhetorical backer of a harbor exit to resign in protest of the may plan at three pm london time the prime minister's office announced that she had accepted mr johnson's resignation or mr johnson is widely seen as damaged goods in any potential successor and bid and mr davis urged members of parliament not to challenge ms may her political position is now more precarious than ever and here's discuss it more in detail about london we go to london and option rights on the host of our teams going underground option thanks for joining us it's hard to imagine that this all hasn't been somewhat brewing for maybe a couple years but at least for the last year bring us up to speed on where we are with all the resignations of david davis and boris johnson. well over the weekend we had

a prime minister victoriously saying to an arguably compliant mainstream media everything was ok we've got a deal that we want to secure from brussels and sure enough midnight on sunday night we saw the break that secretary resigned and now the foreign secretary is saying the dream is dying and the britain risks becoming a colony of brussels out of all of the brics of negotiations and anyone thinking that the foreign secretary boris johnson may want to may want to put himself up for one of your supremes jobs he resigned his american citizenship in twenty sixteen but it is in crisis and i should say that the bank of england has already signaled a tick in the interest rates maybe an organist the minute boris johnson foreign secretary resigned the pound started to make an uneasy full in the ensuing i was against the dollar on the your it doesn't surprise me option you know it can

be said that you know you want to keep your cabinet pretty close to you but it in fairness to the prime minister you know she had a cabinet of maybe not anime's but certainly people who you weren't you know loyal to her and so you know to some extent you could understand a little bit bit of it but i mean with the breck six secretaries leaving i mean he was the guy in charge of this and when he says that things aren't going like they should that spells trouble but my question to you is whether or not this was merely just an embarrassment for prime minister may or whether or not this is going to blow up into an even larger brecht's that crisis. well some saying this was a coup engineered by tourism a who was a remainer before the vote and then said she was for bricks it but i think most most commentators certainly believe that actually this is just

a sign of a completely chaotic perspective as to these. very complex trade negotiations she was talking up t.p. pete as the savior in parliament after the resignation of the foreign secretary i'm not sure the united states quite understands that washington's position on the trans-pacific partnership given the executive order from donald trump and of course we mustn't forget this is all happening before theresa may meets donald trump in brussels for the nato summit where european leaders are preparing presumably to be argued against by the american president of paying too much for the nato alliance and then of course donald trump comes to london and he's the it looks like as of now britain doesn't even have a foreign secretary presumably there will be one appointed in the hours and the scores of hours just before trump arrives in the country yet it's really amazing what's going on over there and it doesn't make it any easier when donald trump goes that way let me ask your question we only got about fifty seconds here dominic robb

has been appointed as a bright six secretary what should we be looking for next. well don't think rob is a hard right. politician he believes that paid holidays at work shouldn't even be given and he was widely spoken about as a perhaps a rival to theresa may but she's he's going to be in the ten he's accepted the position which will hopefully for to raise a may mean that she can triangulate and try and stop her leadership collapsing but most people here commentators believing now that the british government will have to collapse if not today tomorrow this week certainly very soon oh my gosh well we'll be looking forward to seeing what happens option right on see the host of artes going underground thank you for your time appreciate it. and in

other breck's it related news blackrock and citi group have joined the slow but steady financial exodus from the city of london and announced that they will expand operations in paris french president emanuel mccrone battling record setting unpopularity in france can now boast of two big gets from his plans to woo financial firm from london to paris the french president reportedly met with black rock c.e.o. larry fink to move the deal along while london will still be black rocks de facto european headquarters and no staff will move the company will make paris the hub for outreach to europe and asia and city for their part said that they will add one hundred jobs and concentrated in paris and four other cities across europe as well as one hundred fifty more workers in frankfurt. and other news about the shifting geo political relationships of the trump era china is looking to europe for allies and partners as it braces for the full impact of president trump's tariffs on thirty four billion dollars worth of chinese imports to the u.s.

which went into effect on friday china's prime minister met with a number of european leaders at the so-called sixteen plus one summit in sofia bulgaria on saturday and with german chancellor angela merkel earlier today these diplomatic overtures will precede the twentieth china e.u. high summit set for next week in beijing in june the european commission's vice president and the chinese vice premier it signaled plans to quicken the pace of negotiations on a bilateral investment treaty between china and the e.u. . and the jobs numbers came out on friday and there were a number two hundred thirteen thousand jobs were added last month in june although the unemployment rate rose two point four four percent as poor point zero percent that's up from three point eight percent by the way here to help us break down the

numbers as conservative t.v. and radio commentator steve steve thanks as always for joining us please put this into some perspective for us. i will try ok so you have over one hundred fifty five million people working that number is the tenth record for that category since donald trump has taken office the tenth month that that is set a record as you correctly mention the number was up with slightly more than expected but the at the unemployment number the jobs were up at the unemployment number also went up two tenths of one percent that's largely in part due to the fact that more people are in the labor force the people who have joined looking for jobs and that number labor force participation went up also two tenths of one percent so i don't know if it's a direct correlation always but it's so high it so happens it is in this case so you have more people looking now wages went out zero point two percent in year over year that's on pace for a two point seven percent increase which is not as much as some economists would

like to see and economists point to that they point to a rising interest rates they also point to a shrinking. workforce more jobs available than they have workers to fill and they say you know these could be trouble signs ahead in addition to the terrorists well i'm not one of the detractors there are always some negatives out there and people will point to those and that's a good thing to do steve right but let's look at two bad jobs out there that don't match the skills of all the people that would be nice in that regard steve let's talk a little bit about the sectors which were the winners from a sector specific area which was sort of the not winners you have manufacturing and manufacturing had about thirty six thousand jobs which brings the total and again i go to trump to three hundred sixty thousand during his time in office and i bring that up because the previous president barack obama made it very clear that

manufacturing jobs are going away and they're not coming back well they're coming back durable goods certainly benefited in. in this month of june you also had construction which did very well health care did well with over twenty five thousand jobs you had eleven thousand of those in hospitals so those are three sectors also mining and you know donald trump promised the miners and he's delivered these a five thousand mine related jobs which is also bringing the total up sharply as we go across the term of donald trump so he's promised he's delivered and those are the sectors that benefit now you probably get asked me for the i would like a values idea retail and retail last about twenty to twenty three thousand jobs and you know you can point to many factors and retails been struggling and during the course of many months and you know you look at brick and mortar stores and shopping malls and people not going and people doing their shopping online and etc

etc and that's contributed to it and i don't know for in for a long run in that respect or things will turn around but that it was retail that was the big loser in this jobs report that steve let's go a couple of months ago you helped us look at the states with the highest and lowest unemployment rate do a little bit of that for us where the best places as far as jobs are the worst places. well the whole why again far and away with a two point zero percent unemployment rate they come in with the lowest once again and they have believe it or not the labor force a lot of people leaving hawaii they have an aging population the labor force is shrinking it's very expensive to live in hawaii and even people with good jobs can afford the rent so that's one reason you also have a very unique kind of population and on the other end of the scale it's alaska which again traditionally is kind of i would just stuck in last place with seven

point two percent unemployment and they're very seasonal the seasonality plays a role there fishing tourism and they have a very atypical population not a real western style they have people living in villages of one hundred hundred fifty people they're working they may not be counted at cetera et cetera so those are the those are the two extremes texas had the biggest gain in jobs and dropped in and there are a number of unemployment rate seems thank you as always very informative always helpful thank you steve malzberg conservative t.v. terry thanks bart. and more scandals in the auto industry as nissan motor company has announced the discovery of a willfully false fully de falsely defining reports on fuel efficiency and a mission's nissan says the false data affects nineteen different nissan model cars but won't require any recalls last year nissan had to recall one point two million vehicles sold in japan over missed final inspections and it adds to the recent

string of compliance and possibly cation problems at subaru mitsubishi and on a much larger scale of course volkswagen nissan stock fell more than four and a half percent on monday's trading on the news and time now for a quick break but stick around because when we return there's a proposal to increase trade with cuba that's causing problems on capitol hill john cavaletti the president of the u.s. trade and economic council joins us to discuss plus u.s. soybeans the major export are being impacted by the trade wars and oversupply weiland most further from i.h.s. market joins us from missouri to talk a lot as we go to break here the numbers at the closing bell all green arrows on the big board today we'll be right back.

became his camera. roughly once the show and some will pay you for the. videos during the boom come and some of them with the broken string and. down more on string i don't really don't t.v. let's also say hold on let's move those jobs back to america by imposing sarus to equalize this trade. sure and move toward a post china extraction model you know where as private equity extraction wealth using leverage files china's but extracting wealth using leverage trade shenanigans so this is just the reverse of that. as i hear it in some people's voices starts to make a little bit more sense people don't understand that this guy actually understands

more than people i'm giving him credit for. and shipping news china's state run cosco not cosco cosco has received required approval from the committee on foreign investment in the united states to acquire rival orient overseas international cosco announced that it gained the approval after agreeing to divest itself of a long term concession to operate a terminal at long beach california currently held by orient the divestment was outlined an agreement between costco and the us department of justice and homeland security the terminal is valued at reportedly one point five billion dollars the cosco orient merger is now set to create the third largest shipping firm in the world in a deal worth six point three billion dollars. and all the environmental problem has

resurfaced and researchers say chinese industry is to blame the environmental investigation agency or the ai national a non-governmental organization based in the u.k. noted a thirty eight percent increase since two thousand and twelve in the presence of a banned chemical c f c eleven in our planet's air that chemical is a specific kind of coral for old power been or c f c a class of chemicals that were banned by global agreement in one thousand nine hundred eighty nine because they degrade the ozone layer in the the atmosphere. those only are block harmful ultraviolet radiation of course now the ice says the banned chemical is being widely used by chinese polyurethane foam manufacturers almost a third of all such phone is made in china e.t.a. i researchers told london's financial times that eighteen of twenty one phone manufacturers admitted to using the banned chemical a few of those eighteen admitted to knowing that the c.f.c.

banned was in effect it remains to be seen what enforcement actions may take place and there's an effort in congress to increase agricultural trade with cuba as part of negotiations on the u.s. farm bill here discusses john callahan president of the us to try and the u.s. cuba trade an economic council sorry john had china on my mind thank you so much for being with us bring us up to speed on what's going on on the hill with regard to cuba. the farm bill has passed the senate overwhelmingly and it includes a provision that will allow approximately eighty nine and it is in the united states these are mostly ag entities u.s. rice growers growers etc to tap two programs the total budget of which is about two hundred million dollars and they'll be able to use some of those funds market ass access programs basically to promote u.s. agricultural products and food products in cuba the house version does not have the

same provision now in the senate version senator marco rubio of florida was able to insert an amendment and what that amendment said was it's ok to use these per these funds however they cannot be used at and it is in cuba controlled by the cuban military which in the normal legislative process and anything to do with cuba in the u.s. congress is always either like a funhouse or a roller coaster but in the normal process that wouldn't mean much but in this particular case by senator rubio getting that amendment it could potentially do a rail and ability of u.s. travelers who have been able to book travel to cuba in directly and stay at military operated entities so it's all complex and it's as usual a mess with cuba where one good thing can end up being one bad thing where you can help us sort it out you always do a great job john so i know about some of these programs at least the map program

the market assistance program it's essentially a dollar for dollar match as i recall if you're going to try and trade it's with countries all around the world it's such really help subsidize your trade promotion that was the other one the trade promotion authority that they used. what's the other program that they that they had in this this one not just the map program. we have a foreign market access development program and yeah one program has about twenty six million the other one has about seventy s. there are one hundred seventy six million so it's about two hundred million dollars that these entities will be able to go to the u.s.d.a. and say hey we would like to promote soy rice corn except where in cuba go to trade shows have trips down there except now the challenge is that the cuban government now is going to see that for the first time if this makes it in

the house bill which it's likely it will but over twenty five years we've seen this before where something makes it in one house it goes to a conference and it gets stripped out this may survive and if it does the cuban government may very well say to the soy growers and the corn growers and the rice growers and the wheat growers and the poultry producers hey you can now get some of this two hundred million well in order to prove to us that you truly think we're an important market we want you to use some of it we want you to go to the u.s. it da and ask for some of it and if they don't we could see the consequences and ironically. with us soil growers and now on the receiving end of these terrorists with respect to china cuba is the one place that with a tweak to a regulation in the treasury department that would allow their direct payment for

the exports cuba could actually increase its purchases of u.s. soil john we appreciate you helping us out on this we hope you'll come back whether it gets a little bit further down the road john cavil is president the u.s. cuba trade and economic council thanks john. you're welcome. after the u.s. did impose tariffs on chinese good beijing continues to fight back by placing thirty fillion thirty four billion dollars worth of tariffs on five hundred forty five different u.s. export products to china including agriculture commodities so we take a closer look and continue our conversation on commodities to do so we are pleased to be joined by rylan malt berger who is the associate director of agricultural economics and country risk at i.h.s. market we love i.h.s. market rylan thanks for being here from columbia missouri you've had a busier than usual time with everything that's been going on with all the will he

or won't he trade talks all over all where are we now and commodity prices and how have they been impacted by these trade wars well they are weak and that's not a good who are the market and we've been going down with corn a story in prices basically since the end of may and it's on a downward trend we've kind of stopped balanced up a little bit on friday just after the tears came into place but we're in a weakened position and not just with the greens but also in some of the beats and different categories that are being terror for china and for the different countries we're against at the moment well i want to talk about some of these specifically in a lot of them are interrelated as you well know but let's talk specifically first of all about soybeans and beans are as most people know a really large export for the u.s. they're about forty percent of all the soybeans traded internationally and last i checked they were below eight bucks a bushel the give us more flavor to what the prices have been doing with beings.

well we've gone down to about the lowest price that we've seen in a decade and that puts us back to a spot that's really not really cost productive for growing beans as we use that we're just at a low price and we're coming into this for after three years of good production and so farmers have been dealing with a low price for a multiple of years so coming into this and we can get the price further makes it so we might have a large crop this season and with all the large supplies and nowhere to go with that is going to be a limitation that's keep going to keep pushing prices down as we move forward for lack of a better phrase you may want to hedge your answer on this but but if i had if you had to say you know what sort of price impact had these trade talks add on being prices what would you say. i would say you know it's a combination of a good season but with the tariffs i'd say we've dropped you know good fifteen twenty percent and could potentially go further and what's going to happen though

is that it puts premiums in other regions and so it really forces arbitrage across different nations and and that's going to change how competitive the u.s. can be when we look at a major export we spent half of the soybeans out of the u.s. are for that are produced are for export of loan and i notice you know that brazil certainly trying to pick up part part of the vacuum left by the u.s. but china also seems to be getting into the game going to try to produce a lot more acres of soybeans themselves what do you think's going to be happening beans going forward. well what we see is that we do have potentially a little bit more acreage in china they have not really good yield so they don't have a lot o. they're not really cost productive at making a large amount of soybeans and so what we're seeing is a lot of production in brazil going forward so we see acreage expanding there a lot of room for them to ship. over to china and what's going to happen we start

to see this already to where we've had argentina they had a bad season this year come in and get imports from the u.s. so the price differential means that there's going to be shipping to one country and it's going to ship to another so we could actually see shipping means argentina having them be processed into meal being shipped to brazil to offset their losses in what they need to mess to clean so they have enough to send to china so we really just see it moving around the globe and that price and that higher price in brazil and south america really forces the u.s. to take a discount and try to find new places for expression if we have a large productions here in this we're seeing coming off this year reilly we hope you'll come back we have a little bit more time at trial and mulford the associate director of agriculture economics and country risk at i.h.s. market thanks for your time riling thank you very much. and before we go i want to

tip my personal hat to our dear departed ed schultz the host of the news with ed schultz here in r.t. america i met ed back in two thousand and two when he interviewed me for the radio program regarding the farm bill talking about agriculture today and so it's apropos i was working on capitol hill for tom daschle at the time the senate majority leader and clearly cared about not just all farmers and ranchers but average folks and over the years i was invited on his show t.v. show on and s n b c we got into all sorts of interesting things important issues from gas prices and speculation oil prices to pipelines to finance. the regulation and the banks and ed was on varnished and his passion for lots of issues and these were some of them i was honored always to be with him and when ed moved here to r.t. america i was invited to join him on his show and did so many time last year he told me that he had never had a better job in journalism that he was free to say what he wanted it wasn't edited

he didn't have any corporate show sponsors to worry about he also said that this was an important time and important took time to have a voice in the united states and that meant a heck of a lot to me ed schultz is without a doubt a major factor in why i'm here at r t america he was passionate on t.v. and off and he really cared about issues that impacted people he was a champion for average folks and he was always helpful and giving me advice and he became a good friend i miss him deeply and that's it for this time we'll see again. across europe municipalities are taking their water supply back from private companies who feel they didn't people this is the simple song alone events like on the biggest elsewhere they can find private companies to take over the utilities many bought

a telescope of a luxury wish you guys who got it while on the pier might be cool. this is us to quote them out. for you member of the left bill brought up locals are ready to stand up for the basic human right of access to water it's about water but it's also over much more than water it's about the hurt and the redistribution of all it was to this. date downwards we want all. right we're all set to start in five. year has a signal. he's not going to talk about. just maybe right after the morris explorers one knew it would have their. pool of

rock. to sink. the know. how to illustrate. welcome to sophie and tell him says the sheriff not said today we've got lots to talk about in our program and our gas. good luck to.

the u.k. foreign secretary resigns his the minister to quit in twenty four hours over the government's plan for a soft rocks it. took a politician's blame russia for a knobby child poisoning incident in amesbury even though police have made no link to moscow. a journalist who held the whistleblower ad words snowden expose the n.s.a. secrets is branded a crime lend puppet all because he has attended a cyber security conference and russia. and as the world cup and her said semi final showdown we need some rising stars a woman's football here in the country. so i call.