Caleb Lagrang, the chairman of the American Soybean Association, sent a letter to President Trump on the 19th stating that American soybean farmers are facing “significant” financial pressure. As the harvest season rapidly approaches, the longer the United States takes to reach an agreement on soybean exports with China, the more severe the impact on American farmers will be.
In his letter, Lagrang wrote, “Soybean prices continue to fall while our farmers’ production input and equipment costs are rising sharply. American soybean farmers cannot sustain a long-term trade dispute with our largest customer.” He urged Trump to prioritize soybean issues in U.S.-China trade negotiations.
According to a report released by the American Soybean Association, in the seven years prior to 2018, an average of 28% of soybeans produced in the United States were exported to China, accounting for 60% of total U.S. soybean exports during the same period. In the 2023-2024 marketing year (September 1, 2023 to August 31, 2024), the United States exported nearly 25 million tons of soybeans to China, far exceeding the 4.9 million tons exported to the EU, its second-largest market.