Shipping to China, American farmers have finally arrived
"Three cargo ships are heading to the port to load American soybeans and sorghum for shipment to China," reported Reuters in the UK on November 25. According to shipping plans, two cargo ships were heading towards grain export terminals near New Orleans, Louisiana on the 24th, expected to arrive this week and load the first batch of American soybeans exported to China since May this year.
At the same time, another cargo ship is heading towards a grain terminal along the coast of Texas, expected to arrive next week and load American sorghum for shipment to China, which is the first batch of American sorghum exports to China since mid-March.
The report pointed out that due to the trade war, China has suspended the purchase of American agricultural products for several months, causing American farmers and grain traders to suffer losses of billions of dollars. The country's agricultural sector has been waiting for the resumption of shipments to China.
Data from the U.S. Department of Agriculture shows that soybeans accounted for about 20% of the cash crop revenue in the United States in 2024, valued at about $46.8 billion, with about a quarter sold to China.
However, the trade dispute initiated by the Trump administration this year severely hit the American soybean industry, and South American countries quickly seized the market. The American Soybean Association said that Brazil and Argentina are replacing the United States in the Chinese market, with Brazil accounting for about 71% of China's soybean imports, compared to only 2% 30 years ago.
With the easing of Sino-US trade relations, the White House said last month that China has agreed to purchase at least 12 million tons of American soybeans this season, and at least 25 million tons of American soybeans annually over the next three years. Reuters said that China has already booked nearly 2 million tons of American soybeans and a small amount of wheat, but has not yet signed this agreement. Questions surrounding the details of the agreement and the timing of the shipment continue to increase uncertainty in the grain market.
To ease the anxiety of the agricultural sector, President Trump posted on his self-created social media platform "Truth Social" on the 24th, stating that he had reached a "good and very important agreement" for "our great farmers" during a call with Chinese leaders.
Original: www.toutiao.com/article/1849757027206208/
Statement: This article represents the views of the author.