""The frustration is overwhelming," the American Soybean Association (ASA) President Caleb Ragland said in a statement on Wednesday."
""U.S. soybean prices are falling, harvest is underway, and farmers read headlines not about securing a trade agreement with China, but that the U.S. government is extending $200 billion in economic support to Argentina while that country drops its soybean export taxes to sell 20 shiploads of Argentine soybeans to China in just two days.""
""The farm economy is suffering while our competitors supplant the United States in the biggest soybean import market in the world," it concluded."
The U.S. government engaged in negotiations to provide financial support to Argentina, including talks about a potential $20 billion swap line between the U.S. Treasury and Argentina's central bank. Argentina suspended export taxes this week, including on soybeans, and reportedly sold multiple cargoes to China as it strengthened trade ties. The moves reduced U.S. soybean competitiveness in the China market, driving down prices during harvest and increasing farmer frustration. Soybeans comprised nearly 20% of U.S. cash crop receipts in 2024, generating $46.8 billion, leaving the farm economy vulnerable to lost export demand.
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