• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

'Skills nobody can take': Meet a 20-year-old with a 4.5 GPA who skipped college for technical school to land an 'AI-proof' career

3

China suffers another setback in effort to de-dollarize global finance as anchor in the greenback's dominance quietly exits Beijing's payment scheme

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

'Skills nobody can take': Meet a 20-year-old with a 4.5 GPA who skipped college for technical school to land an 'AI-proof' career

3

China suffers another setback in effort to de-dollarize global finance as anchor in the greenback's dominance quietly exits Beijing's payment scheme
soybeans

American Farmers Are Sitting on Their Soy Until China Starts Buying Again

By
Hallie Detrick
Hallie Detrick
Down Arrow Button Icon
By
Hallie Detrick
Hallie Detrick
Down Arrow Button Icon
November 12, 2018, 7:18 AM ET
Google source logo
Add Fortune on Google for similar content.

American farmers are stockpiling soy.

Faced with reduced prices because of the U.S.-China trade war, soy farmers are choosing to sit on their crop—one of the largest to date—rather than sell. A bushel of soybeans is going for about $8.87, down about $2 since eight months ago before the two countries started raising tariffs on each other’s goods, according to Bloomberg.

China is the world’s largest importer of soybeans, but their import of American soybeans was down 94% in the year to mid-October, which is having major knock-on effects in the American market.

Meanwhile, soybean futures for July are currently selling for around $9.27. While not as high as it was before the trade war, that price is much more attractive to farmers—if they can keep their crop that long. Many are literally running out of room to store soybeans, which are more prone to rot than other crops, and have been forced to keep them in risky conditions or even to leave them unharvested in the field.

Trump has offered temporary financial relief to farmers, the lion’s share of which has gone to soybean farmers. But Doug Schroeder, the vice chairman of the Illinois Soybean Association, says farmers need trade, not aid. “Market access and trade certainty support our families, our businesses and our communities. Short-term aid does not create long-term market stability.”

About the Author
By Hallie Detrick
See full bioRight Arrow Button Icon

Latest in


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.