Stephens said soybean futures prices have fallen by more than $2 per bushel in the past year due to economic and trade frictions between the United States and China, and soybean farmersearnings have been significantly affected. Data from the Chicago Futures Exchange show that soybean futures for July delivery closed at $8.025 a bushel on the 13th, falling to a 10-year low. American soybean farmers are unwilling to continue to be hurt in the endless tariff war, and they urgently need to restore the Chinese market.
The American Soybean Association (ASA) said in a statement Wednesday that it has always opposed the use of unilateral tariff measures to solve the trade deficit between the United States and other countries, and supported increasing U.S. agricultural exports, including soybeans, through trade negotiations.
Stephens said that after several rounds of negotiations, the United States and China have not yet reached a trade agreement, which means that U.S. soybean growers have lost valuable markets, stable prices, opportunities to support families and communities. As trade confrontation continues, it will become increasingly difficult to restore Chinas market share.
He said June was the latest time of year for soybean planting in the United States. Soybean farmers in some parts of the United States may still be watching the progress of the U.S. -China trade negotiations to determine this years planting plan. Pea farmers hope that the two sides can reach an agreement as soon as possible without continuing to worry about uncertainty.
Farmers from all over the country responded to the soybean revitalization plan and planted area increased significantly this year.