Zhejiang Shifang Pipe Industry Co.,Ltd

Zhejiang Shifang Pipe Industry Co.Ltd is one of the most professional manufacturer and exporter of roof drainage system..

Home > News > Content
There Were Too Many Losses In The Trade War, And American Farmers Were Forced To Abandon Soybeans.
- Nov 05, 2018 -

"Soybean prices fell below the profit and loss line and American farmers changed to wheat and maize," Reuters reported Wednesday, as China almost stopped importing U.S. soybeans, causing soybean prices to drop to decades low, and U.S. farmers had to switch to new crops. Statistics from the U.S. Department of Agriculture show that for the first time in 35 years, wheat and Maize in the United States will grow more land than soybeans.

Minnesota's Tribune Star reported Wednesday that in previous harvest seasons, a large number of trucks loaded with soybeans from the state set off for the West Coast and exported to China. Soybeans are the most exported agricultural products in the state. But this year, similar scenes never appeared again. Reported that in retaliation for the U. S. government imposed tariffs on Chinese products, China imposed a 25% tariff on imported U. S. soybeans, which led to local farmers "unable to sell" soybeans. Locally, the guaranteed cost of a bushel of soybeans (equivalent to 35.238 litres) is about $9, but now the market price is only $7.2. "There are so many losses that no one will sell them. There are farms or barns." Local farmer Peterson said.

A similar situation occurred in North Dakota. Thomas, a local farmer, said the market price for soybeans was $7.1 a bushel and the cost was $8.5. Reuters said that for the first time in recent years, some American farmers, who have been expanding their soybean planting area, have turned to wheat and maize instead. According to Tribune Star, the prospects for replanting maize are uncertain. The cost of growing maize is higher than that of soybeans. Maize prices have been depressed in recent years. If trade frictions between the United States and China persist, the United States will face an "agricultural crisis" next year.