Farmers Buoyed But Cautious As China Resumes Buying Soybeans

News
Soybean_Surplus_Tariffs_25780-159532.jpg68835793

In this Nov. 21, 2018, photo, Justin Roth holds a handful of soybeans at the Brooklyn Elevator in Brooklyn, Iowa. Farmers still working to get out their remaining corn and soybeans after a weather-plagued harvest season are also struggling to figure out what to do with the record soybean crop for which they have fewer […]

The resumption of soybean sales to China is encouraging to American farmers who’ve seen the value of their crop plummet amid a trade war with the world’s second-largest economy.
    
But producers see it only as a small step toward normalcy as they continue monitoring the unsettled trade relations between the countries and call for more federal aid.
    
Private exporters have reported sales of 1.43 million metric tons of soybeans to China less than two weeks after the Trump administration reached a three-month truce in the trade war.
    
The American Soybean Association says it’s positive news but didn’t significantly boost prices and farmers need more help.
    
Both the association and the National Farmers Union are pushing for more federal aid through a $12 billion federal program created to compensate producers for trade-related losses.
 

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Continuing The Conversation
See Full Weather Forecast

Trending Stories

Don't Miss!

More Don't Miss


 

More Contests