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Trump Promises To Make Soybeans 'Great Again,' Farmers Await Breakthrough With China
['Eva Mathew']
Benzinga - Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals
Trump said he would meet Xi at the upcoming Asia-Pacific Economic Cooperation summit, where soybeans would be “a major topic of discussion.”Half Of U.S.
Soybean Exports Are To ChinaThe leader has been under pressure to resolve the deadlock with China over tepid soybean purchases, which have hurt American farmers.
China is also the world’s top soybean buyer, meaning it has significant influence on global markets.
It has not purchased any U.S. soybeans since May, according to the American Soybean Association.
This is because of the retaliatory tariffs China has placed on the U.S., making the price of American soybeans unattractive for buyers there.