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Farmers in southern Illinois say that the drought, the high costs and the commercial freezing of China drive the benefits of soy below the breaks even this season.
President Donald Trump He accused China of doing an “economically hostile” act by cutting out soy shopping and said that it is planning to end North -American trade with China that involves kitchen oil and other goods in response.
“I think China does not buy with the intention of buying our soy and causing difficulty for our soya farmers, it is an economically hostile act,” Trump wrote Tuesday about social truth. “We are thinking of finishing business with China that has to do with kitchen oil and other elements of trade, as a remuneration.
“As an example, we can easily produce cooking oil, we don’t have to buy it in China,” he added.
Trump’s comments come from the ongoing trade dispute China He continues to create serious heads for North -American farmers, as soybeans lose access to the largest market in the world for merchandise.
North -Soya -American Farmers face the financial crisis as China’s commercial dispute threatens life
The soybeans are loaded in a truck before bringing them to a grain elevator in Dwight, sick. (Scott Olson / Getty Images / Getty Images)
China stopped buying North -American soybeans in spring, in retaliation for Trump administration’s rates. The movement seemed to be a means of China, as it seemed to obtain a leverage in commercial conversations away from their purchases from North -American producers in countries such as Brazil and Argentina.
The data of the American Soybean Association (ASA) show that China is the main world importer of soybeans, which provided 61% of the world’s marketed soyback supplies for the last five years of marketing.
The ASA said that the United States has historically served as a main soy provider for China, exporting 28% of the average of farmers in China before the 2018 trade war.
Farmers of all Illinois store more soy this season, waiting for the prices to be recovered as the exports are low. (Olivianna Calm / Fox News)
This number dropped to a minimum of 11% in 2018-19, although it was recovered during the pandemic and reached 31% by 2020-21. But from 2023-24, the percentage dropped again, this time to 22%.
“We rely on trade with other countries, specifically in China, to buy our soybeans,” said Brad Arnold, a multigenerational soya farmer in the south -Missouri, told Fox Business in an interview earlier this month.
He said that soy purchases in the United States of China “has a great impact on our business and our background line.”
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Chinese President Xi Jinping and President Donald Trump in 2017 in Beijing. (Thomas Peter-Pool / Getty Images / Getty Images)
The ASA chief economist, Scott Gerlt, said in an interview with Fox Business that soybeans will need Help trade Soon the crop calendar was given.
Gerlt said that while larger farmers may have their land or equipment may not be so needed, younger farmers who have to rent the land that grow and have operational notes are much more risk.
“Having reliable commercial partners is better in the long term. Commercial aid can get farmers to cause short-term farmers to help keep them in business and reach the following year,” he said. “But the problem is that if we are not in the markets now, this is just a signal South America To continue expanding -. “
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Gerlt added that South American soy producers in Argentina and Brazil are likely to take advantage of China’s soybean demand in the midst of the country’s commercial dispute with the United States, which could have a long-term impact on American farmers.
On Tuesday, Fox Business’ Edward Lawrence asked Trump if he thought China was trying to remove a wedge between the United States and Argentina by buying soy of Argentina and not from North -American farmers.
“I would say that,” Trump said. “China likes to draw wedges.”
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“I mean, I guess it’s natural. It’s China and it’s natural,” Trump said later. “But in the end it doesn’t mean anything.”
Eric Revell, Eric Revell, contributed to this report.
