American farmers are in tears! China no longer buys American soybeans, and the "40 giant ship orders" have all been given to this country. Up to now, the number of bankrupt American farms is higher than the same period in 2024.

With the escalation of the Sino-US trade war, American soybean farmers are deeply worried about losing their "biggest client", China. However, after Beijing announced that it would raise tariffs to 125%, American soybean farmers lamented that their "hearts were chilled". Foreign media pointed out that enterprises purchased a large amount of soybeans from Brazil this week, buying at least 40 cargo ships, approximately 2.4 million tons of soybeans, which is one-third of China's monthly crushing capacity. The purchasing speed and scale are astonishing.

Foreign media reported that despite US President Trump's temporary suspension of reciprocal tariffs for most countries for 90 days, it could not alleviate the concerns of American farmers who are facing even more severe challenges. Their trade relationship with China's largest client may be "completely cut off".

Randall LaGrange, chairman of the American Soybean Association and a farmer from Kentucky, is deeply distressed by this situation. He said that American farmers' wounds from the 2018 trade war have yet to heal, and now the new round of trade war with China may lead them to lose more overseas markets, handing over opportunities to competitors, making it difficult to regain them.

LaGrange, who has voted for Trump three times, published an article through the media urging him. He pleaded with Trump not to let those who once supported him suffer "pain", and to quickly reach a negotiation agreement with China. LaGrange wrote: "The trade war with China may cause American farmers to go bankrupt before 2027."

According to statistics from Epiq Bankruptcy Analytics, up to now, 88 family farms or corporate farms have filed for bankruptcy this year, higher than the 50 in the same period in 2024. If the US continues its tariff policy, this number is expected to continue rising.

Information sources revealed that China purchased at least 40 cargo ships, approximately 2.4 million tons of soybeans this week, with delivery expected between May and July. China usually makes large purchases when Brazilian soybeans are harvested in February, but the scale and speed of this week's purchases are remarkable.

It is worth noting that in the fourth quarter, if Brazil's soybean supply becomes scarce, whether Chinese buyers will switch to purchasing newly harvested American soybeans will become a focus of market attention.

Statistics from the US Department of Agriculture show that as of the end of March, nearly 600,000 tons of sold US soybeans have yet to be shipped, some of which may face the risk of canceled orders from China. If the trade war cannot be alleviated, these soybeans may directly become inventory losses.

Original source: https://www.toutiao.com/article/1829182686842883/

Disclaimer: This article solely represents the author's personal views.