US EditionOhio Farmers Feel Pinch as China Shifts Soybean Buys Amid Trade War
China purchased over 1.3 million tons of Argentine soybeans this week after Argentina suspended export taxes, leaving U.S. soybean sales to China at zero this marketing year.
- U.S. soybean farmers in 2024 face significant losses as China shifts purchases to Argentina amid a busy harvest season and rising tariffs.
- This shift follows China's suspension of Argentine export taxes and a $200 billion U.S. financial support effort to stabilize Argentina's economy.
- Soybean prices have dropped about 40% since 2022, supply piles at ports, and many farmers sell at reduced prices to co-ops to cut losses.
- Todd Main said farmers seek a trade deal or stable conditions, while Wendong Zhang noted bailouts offset immediate losses but not long‑term competitiveness.
- The ongoing trade war and market shifts threaten rural communities reliant on farming, suggesting lasting challenges unless trade relations improve soon.
12 Articles
12 Articles
‘The frustration is overwhelming’: Soybean farmers feel betrayed as Argentina blows a hole in rural America’s $47 billion soybean bonanza
China will reportedly buy at least 10 cargoes of Argentine soybeans, further jeopardizing the U.S. export market, even as Argentina gobbles up Trump support.
Ohio farmers feel pinch as China shifts soybean buys amid trade war
Farmers like Dale Settlemyre in Clarksville are feeling the impact of the ongoing trade war between the United States and China.Settlemyre grows soybeans, the largest agricultural export in the country. He said when U.S. tariffs on Chinese exports spiked in April, China retaliated with its own tariffs and stopped buying soybeans from the U.S."Our board of trade prices is less because demand has been reduced," Settlemyre said.According to the Ohi…
China urges U.S. to drop tariffs for trade boost
China has called on the United States to remove unfair tariffs to support smoother trade and help stabilize the global economy. The Chinese Ministry of Commerce shared this message in a recent statement. A spokesperson said the U.S. must take concrete steps, especially in soybean trade. China is the world’s largest buyer of soybeans and relies heavily on imports. Tensions over tariffs have hurt trade between the two economic powers. In the past,…
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