US farmers are suffering due to the collapse of soybean and corn prices

American agricultural organizations are sounding the alarm over deepening financial difficulties in rural areas of the United States, caused by falling corn and soybean prices, while production costs remain high. The National Corn Growers Association (NCGA) reported an “economic crisis hitting rural America,” noting that corn prices have fallen by more than 50% from their 2022 peak, while growing costs have fallen by only 3%.

The NCGA said the imbalance is leading to losses of 85 cents per bushel and predicted an even more difficult year ahead. The association called on Congress and President Trump’s administration to take steps to expand demand for corn, including by increasing the use of ethanol and ensuring better access to foreign markets. Such steps, the organization believes, could help alleviate the crisis.

The American Soybean Association (ASA) expressed similar concerns in a letter to President Donald Trump, warning that “American soybean farmers are on the brink of a trade and financial abyss.” The ASA urged the White House to prioritize soybeans in negotiations with China, securing significant commitments on purchases and the removal of Beijing’s tariffs on American crops. Soybean prices have fallen by about 40% since 2022, and China has yet to purchase any U.S. soybeans for the coming months.

The ASA noted that historically the United States has been a major supplier of soybeans to Chinese customers, but that China is increasingly turning to South American competitors, including Brazil and Argentina, due to ongoing trade conflicts. The organization stressed that American farmers are under “extreme financial pressure” and warned that “US soybean producers will not be able to survive a prolonged trade conflict with our largest customer.”

Tags: corn, soybean, USA