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

Farmers feel betrayed as China dangles millions of tons of soybean purchases over the U.S. to get an edge in the escalating trade war

Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Reporter
Down Arrow Button Icon
Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Reporter
Down Arrow Button Icon
November 10, 2025, 12:54 PM ET
US President Donald Trump (L) and China's President Xi Jinping.
US President Donald Trump (L) and China's President Xi Jinping.Andrew Caballero Reynolds—AFP via Getty Images

Soybean farmers, caught in the middle of a trade war between the world’s two biggest superpowers, are starting to feel the consequences as China uses its crop purchasing power as political leverage.

Recommended Video

As China’s economy has improved, the country has sought out more growth-boosting, high-protein soybean to feed its growing number of livestock such as pork and poultry. As the world’s biggest soybean buyer, China last year bought $12.6 billion worth of soybean from the U.S.—accounting for more than half of America’s total exports of the crop, which is its biggest agricultural export. 

Yet, this year the Trump Administration’s trade war with China has changed up its soybean calculus. 

The world’s second biggest economy usually commits to buying U.S. soybean as early as September at the start of the fall harvest. Thanks in part to tensions with the U.S. and increased tariffs, though, China did not commit, from May until the end of October, to any U.S. soybean purchases, partly relying instead on South American imports, especially from Brazil.

China in recent years has also built up its own soybean production, adding about 9 million acres of the crop and increasing its production by 8.6 million metric tons since 2015, according to the University of Arkansas System Division of Agriculture.

As a result, American farmers have faced an undue strain. Caleb Ragland, a ninth-generation farmer from Kentucky and president of the American Soybean Association, said during a congressional hearing in October that the price of farm production, including land costs, seed, and fertilizer, have skyrocketed while agriculture margins continue to fall.

“For soybean farmers, the loss of our largest export market due to trade retaliation by China has made financial problems even worse,” Ragland said. “High production cost and market losses mean soybean farmers are expected to face a loss of around $109 an acre for this year’s crop.”

China ultimately committed to buying 12 million metric tons of soybean, down from 22.5 million tons in the prior season, ahead of President Donald Trump’s meeting with Chinese president Xi Jinping in South Korea late last month.

Trump has also promised $12 billion in aid for the affected soybean farmers, which, as a group, were one of his strongest supporters in his return to the White House last year. 

Yet, some farmers like Scott Gaffner, an an at-large director of the Illinois Soybean Association, say President Trump’s bailout isn’t enough.

While China has committed to buying 25 million metric tons of soybean for the next three years, U.S. soybeans still face a 13% import tariff imposed by China, making them less appealing than competing supply from South America. In recent years, China has started shifting its buying to Brazil. China imported 71% of its soybeans from Brazil as of 2024, compared to 2% in the late ‘90s, according to the United States Department of Agriculture.

Gaffner said any further change in China’s soybean buying habits could cause farmers problems for years to come.

“If China starts buying elsewhere, which they are doing now, once they establish those trade routes, it becomes more difficult for them to come back to the U.S. and buy their commodities,” Gaffner told CBS. “Once we lose that, we may never get it back again. And that’s huge.”

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
About the Author
Marco Quiroz-Gutierrez
By Marco Quiroz-GutierrezReporter
LinkedIn iconTwitter icon

Role: Reporter
Marco Quiroz-Gutierrez is a reporter for Fortune covering general business news.

See full bioRight Arrow Button Icon

Latest in Economy

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
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
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
Fortune Secondary Logo
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Economy

iran
Middle EastMiddle East
How the Oct. 7 attacks led to a multiyear destruction of Iran’s proxy militias
By Adam Geller, Abby Sewell and The Associated PressMarch 2, 2026
2 minutes ago
greenspan
EconomyFederal Reserve
’90s nostalgia seizes the Fed and White House as Warsh and Trump see AI as an internet-style productivity boom
By Paul Wiseman and The Associated PressMarch 2, 2026
12 minutes ago
oil
Energyoil and gas
Oil prices spike above $70 per barrel as Iran’s Straight of Hormuz grows tangled
By David McHugh and The Associated PressMarch 2, 2026
45 minutes ago
President Donald Trump (C) oversees "Operation Epic Fury"
Economynational debt
Trump’s action against Iran is yet another wobble for government debt, warns UBS
By Eleanor PringleMarch 2, 2026
2 hours ago
EuropeLetter from London
European markets slide as Iran ‘war trade’ joins the global AI ‘scare trade’ 
By Kamal AhmedMarch 2, 2026
2 hours ago
An intercepted projectile falls into the sea near Dubai's Palm Jumeirah archipelago on March 1, 2026. The United States and Israel launched strikes against Iran on February 28, killing Iran's supreme leader and top military leaders, prompting authorities to retaliate with strikes on Israel and US bases across the Gulf. (Photo by FADEL SENNA / AFP)
EnergyMarkets
Stocks enter global selloff but some on Wall Street are looking for assets that respond well to war
By Jim EdwardsMarch 2, 2026
3 hours ago

Most Popular

placeholder alt text
Economy
Your grandparents are the reason the U.S. isn't in a recession right now. That won't last forever
By Eleanor PringleMarch 1, 2026
1 day ago
placeholder alt text
Success
MacKenzie Scott's close relationship with Toni Morrison long before Amazon put her on the path give more than $1 billion to HBCUs
By Sasha RogelbergMarch 1, 2026
21 hours ago
placeholder alt text
Middle East
As Iran attacks Dubai, the tax-free haven for the global elite could see 'catastrophic' fallout — 'this can also send shockwaves globally'
By Jason MaMarch 1, 2026
19 hours ago
placeholder alt text
Middle East
U.S. military gives Iran a taste of its own medicine with cheap copycat Shahed drones, while concern shifts to munitions supply in extended conflict
By Jason MaMarch 1, 2026
18 hours ago
placeholder alt text
Personal Finance
Trump's universal 401(k) architect on why lower-income people distrust retirement accounts: 'they want to know what the catch is'
By Jacqueline MunisFebruary 28, 2026
2 days ago
placeholder alt text
Health
Gen Z men are eating ‘boy kibble,’ the human equivalent to dog food, to load up on protein cheaply
By Jake AngeloMarch 1, 2026
1 day ago

© 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.