If there isn’t a China trade deal soon, U.S. soybean farmer warns ‘they’re going to bypass us altogether’

But farmers are concerned that the time is running out quickly Get a deal In time to sell any of the crop this year to Their client.

Treasury Secretary Scott Payette said on Thursday to CNBC that the public could expect news “great support for our farmers, especially soybeans”, just on Tuesday.

Details of the aid package are unknown, but it will come because the world’s largest economist has not been able to reach a commercial deal, and China has suspended US bean purchases. China, the largest foreign US soybean buyer for many years, buys the last time in May and did not buy this harvest season, which started in September.

Trump wrote in a social post in fact on Wednesday: “Soy’s farmers are exposed to our country because China, for the reasons for” negotiating “only, not buying,” Trump wrote in a social publication on Wednesday. “We have earned a lot of money on the definitions, so we will even take a small part of this money, and help our farms.”

“I will meet President Xi, from China, within four weeks, and soybeans will be a major topic of discussion,” Trump wrote.

Soybeans, which China, imports largely to extract oil and animal feed, is an important crop for American agriculture because it is the highest export of American food, as it represents about 14 % of all agricultural commodities sent abroad and China buy 25 % of all American soybeans in recent years.

American farmers grew worth $ 60.7 billion of soybeans, or approximately 4.3 billion inch, in 2022-2023, according to the American soybeans. It was slightly more than half. Illinois is the best increasing condition of soybeans, but Iowa, Nebraska and Minnesota are also great producers.

Trump and Chinese President Xi Jinping are expected to meet on the sidelines of the annual summit to assemble the economic and peripheral economic cooperation, which will be held at the end of October in South Korea.

In the first commercial war of Trump with China, American farmers granted more than $ 22 billion of aid payments in 2019 and about $ 46 billion in 2020, although the latter also included Covid epidemic aid.

Time runs out

Calip Rajland, a Kentucky farmer who is the head of the American Soy Soy Society, welcomed Trump to recognize the difficulties faced by farmers. He said that the procedures are necessary to prevent many farmers from leaving work.

He said that before the trade war, the farmers had already been picked at high costs and decreased crop prices. Then, their largest customer disappeared.

“It is unfortunate that we are used as a bargaining chip for this trade war that you do not do,” Rajland said.

He said the time is declining for the two governments to conclude a deal, because China has already ordered soybeans from countries like Brazil and Argentina to deliver until December, and if there is no soybean deal soon, China can overcome the entire United States.

“If they get two other months, they are in the new soybeans in Brazil and Argentina. They will completely transcend us if we are not careful,” Rajland said.

The deal is still possible

China has Slap 20 % definitions We have soybean since Trump declared Tariff On the world in the spring, which makes us beans not competing in the price.

Revenge definitions in response to the new Trump taxes on Chinese goods on allegations that Beijing has failed to stop the flow of chemicals used to make fentanel as well as Trump The “Tahrir Day” tariffWhich has been reduced to the foundation line rate by 10 %.

Observers say China can reduce the customs tariffs on American agricultural goods if the White House is on the definitions of fentanel. This has not happened yet.

The Washington -based China’s Tanchon Research Center said that the White House “has not given priority to Fintanel” since the spring of this spring. She said that Wang Xiaong, the Minister of Public Security in China, appeared in Geneva in May, but he did not meet the United States to negotiate with him.

She said that time has not been time to remove the soybean deal. “China still needs something to appear at the South Korean leadership meeting,” said Sun.

Gabriel Wildaw, Managing Director of TENEO Consulting Company, said the soybean deal is a “less suspended fruit” for both governments.

“China needs beans, and the United States must sell it. China does not mainly turn towards beans and move away from Brazil and Argentina,” said Weldo. “If Washington and Beijing cannot reach an agreement on soybeans, they will not have great hope to reach a deal on thorny issues such as export controls.”

Argentina is a painful topic for American farmers at the present time because on September 24, Beijing benefited from a tax vacation in Argentina and asked for nearly 2 million tons of Argentine soy products and soybeans. The tax vacation came after the United States indicated that it would provide a $ 20 billion support package to help stabilize the economy of the Latin American country.

“This situation was angry at many farmers,” Rajland said. “Although I do not think that the specified intention was only to give a large piece, it only gave $ 20 billion to Argentina so that they could send China soy bean. This was the result. Optics seemed very terrible.”

Farmers prefer to trade on help

Government aid may be necessary to help farmers reach this year if they cannot sell to China, but farmers say they prefer to sell their crops on the market.

“All farmers are proud of what they do and do not like bulletins. We prefer to make them in our hands more than they hand them over to us,” said Iowa Rob Euoldt.

Meanwhile, farmers such as Ryan Mcinton, a fifth -generation farmer in the south of Minnesota, say they will do everything they can to survive.

Mcinton said: “It is certain that it tightens the belt, looks at the inputs, considers the previous investments I have made in fertilizers and find out whether I can extend a year or two for another to reduce costs, but maintain the same expectations, and operate the equipment for a longer period.”