""The Soybean Farmers of our Country are being hurt because China is, for 'negotiating' reasons only, not buying,""
""We've made so much money on Tariffs, that we are going to take a small portion of that money, and help our Farmers.""
""The soybeans that China imports largely for oil extraction and animal feed are an important crop for U.S. agriculture because they are the top U.S. food export, accounting for about 14% of all farm goods sent overseas and China has been buying 25% of all American soybeans in recent years.""
""U.S. farmers grew $60.7 billion worth of soybeans, or nearly 4.3 billion bushels, in the 2022-2023 marketing year, according to the American Soybean Association. Just over half were exported.""
President Donald Trump plans a significant aid package to help U.S. soybean farmers affected by China’s halt on American soybean purchases during the trade dispute. Treasury Secretary Scott Bessent indicated substantial support news could arrive as soon as Tuesday, though details remain unknown. China last bought U.S. soybeans in May and has not purchased for the current harvest season that began in September. Soybeans are the top U.S. food export, about 14% of farm goods shipped overseas, with China purchasing roughly 25% of American soybeans in recent years. U.S. soybean production was $60.7 billion in 2022-2023, with major producers including Illinois, Iowa, Nebraska and Minnesota. Trump intends to meet President Xi Jinping in four weeks and plans to make soybeans a major topic of discussion.
Read at Fortune
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