Foreign media: Caleb Ragland, chairman of the American Soybean Association, emphasized in a letter to President Trump that American soybean farmers are facing a trade and financial crisis due to China's retaliatory tariffs on U.S. soybeans, causing the loss of the Chinese market for American soybeans.
Over the past five years, China has imported an average of 61% of the world's soybeans, with the United States being the main supplier. However, affected by the tariffs, China has turned to South American countries such as Brazil for purchases. Brazil has lower land and seed costs, making its soybeans more competitive in price. Its exports to China have significantly increased over the past 15 years, while U.S. soybean imports have begun to decline.
The price of U.S. soybean futures has dropped sharply due to China's absence from the new crop export market. It is expected that U.S. soybean production in 2025 will be higher than the trend line. Currently, U.S. soybeans face a tariff 20% higher than those from South America, putting U.S. farmers at a competitive disadvantage in the upcoming harvest season.
Original article: www.toutiao.com/article/1841141035331720/
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