American soybean farmers urged US President Donald Trump in a Tuesday letter to reach a trade deal with China that secures significant soybean purchase agreements, warning of dire long-term economic outcomes if the country continues to shun the US crop.
“Soybean farmers are under extreme financial stress. Prices continue to drop and at the same time our farmers are paying significantly more for inputs and equipment.
“US soybean farmers cannot survive a prolonged trade dispute with our largest customer,” said the letter sent from the American Soybean Association (ASA) to Trump on Tuesday.
China’s turn to Brazilian soybeans could cost US farmers billions. China bought 54 per cent of US soybean exports in the 2023-2024 marketing year, worth US$13.2 billion, according to the ASA. The country’s soybean imports hit a record July high this year.
