China's Soybean Purchases Fall Short, Hurting US Farmers

New USDA data casts doubt on Chinas soybean purchase promises, with only two purchases of 332,000 metric tons reported, far short of the agreed 12 million metric tons. Chinas ample supply from South America and existing tariffs make U.S. soybeans more expensive. Despite President Trumps assurances, Beijing has not confirmed any detailed agreement. Soybean prices plummeted by 23 cents to $11.24 per bushel, threatening farmers profits amid soaring costs. The American Soybean Association president warns of potential bankruptcies without significant purchases or aid. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.