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

Trendingnow

1

'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream

2

Current price of oil as of June 17, 2026

3

Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI

1

'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream

2

Current price of oil as of June 17, 2026

3

Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
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
Add Fortune on Google for similar content.

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.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
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
Add Fortune on Google for similar content.

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
  • 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
  • Pinterest icon

Latest in Economy

kw
EconomyFederal Reserve
Kevin Warsh showed that he’s decisively not Trump’s ‘sock puppet’—and markets didn’t like it
By Eva RoytburgJune 17, 2026
3 hours ago
The G7 just pledged to break China’s rare earth grip — there’s a lot of work to do
EconomyChina
The G7 just pledged to break China’s rare earth grip — there’s a lot of work to do
By Mia OsmonbekovJune 17, 2026
3 hours ago
How surging gold prices led to the biggest jump on this year’s Southeast Asia 500
InvestingGold
How surging gold prices led to the biggest jump on this year’s Southeast Asia 500
By Angelica AngJune 17, 2026
4 hours ago
retire
Personal FinanceRetirement
Vanguard’s alarming state of retirement in 2026: The average American has $167,970 in their account—or they have $44,115
By Nick LichtenbergJune 17, 2026
5 hours ago
A mother and father work while their child plays
Economyaffordability
The affordability crisis is so bad that, for the first time ever, both mom and dad are working full-time in most American families
By Jacqueline MunisJune 17, 2026
5 hours ago
Kevin Warsh, chairman of the US Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, June 17, 2026.
EconomyKevin Warsh
Kevin Warsh’s first Fed meeting sees rates hold steady and makes outright promise to deliver price stability—but don’t expect many details on when
By Eleanor PringleJune 17, 2026
6 hours ago

Most Popular

'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream
Success
'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream
By Nick LichtenbergJune 16, 2026
2 days ago
Current price of oil as of June 17, 2026
Personal Finance
Current price of oil as of June 17, 2026
By Joseph HostetlerJune 17, 2026
12 hours ago
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
Big Tech
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
By Tristan BoveJune 15, 2026
2 days ago
Exclusive: Universal beat Disney as Hollywood's maker of the most expensive movie of all time 
Arts & Entertainment
Exclusive: Universal beat Disney as Hollywood's maker of the most expensive movie of all time 
By Christian SyltJune 17, 2026
14 hours ago
Current price of oil as of June 16, 2026
Personal Finance
Current price of oil as of June 16, 2026
By Joseph HostetlerJune 16, 2026
2 days ago
Melinda French Gates' advice to new IPO millionaires: 'Give half your money away'
Startups & Venture
Melinda French Gates' advice to new IPO millionaires: 'Give half your money away'
By Emma HinchliffeJune 13, 2026
5 days 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.