US farmers uge Trump to make soybean deal with China

American soybean farmers have sent a letter to the White House calling on President Donald Trump to reach a trade deal with China that would secure a soybean purchase agreement and warning of dire long-term economic consequences if the country continues to shun U.S. soybeans, Reuters reports.

China, the world’s largest soybean buyer, is shifting its focus entirely to Brazil amid trade tensions with the U.S. and ongoing negotiations. The country has yet to purchase a single ton of soybeans from the upcoming U.S. crop, raising concerns among U.S. traders and farmers.

“Soybean farmers are under extreme financial stress. Prices continue to fall, while input and equipment costs rise. We cannot sustain a protracted trade dispute with our largest buyer,” the American Soybean Association said in a letter to Trump on Tuesday.

China’s switch to Brazilian soybeans could cost American farmers billions of dollars. China will buy 54% of U.S. soybean exports, worth $13.2 billion, in the 2023-2024 marketing year, according to the American Soybean Trade Association (ASA). The country’s soybean imports hit a record high in July of this year, but not from the United States.