• 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.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter will deliver 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

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

Russian debt defaults are surging, with a quarter of the bond market at risk, while Putin hides in bunkers fixated on his war instead of the economy
EconomyRussia
Russian debt defaults are surging, with a quarter of the bond market at risk, while Putin hides in bunkers fixated on his war instead of the economy
By Jason MaMay 9, 2026
10 hours ago
Ted Cruz says the quiet part out loud: Trump accounts are Social Security personal accounts as GOP senator reveals ‘dirty little secret’
PoliticsSocial Security
Ted Cruz says the quiet part out loud: Trump accounts are Social Security personal accounts as GOP senator reveals ‘dirty little secret’
By Jason MaMay 9, 2026
13 hours ago
joaquin
Commentary250 Years of Innovation
Johnson & Johnson CEO: America’s innovation advantage starts with health 
By Joaquin DuatoMay 9, 2026
18 hours ago
tyler
EconomyRecession
This economist studied 400 years of recessions. His bleak conclusion: stop trying to predict them
By Nick LichtenbergMay 9, 2026
20 hours ago
Asia’s ultra-luxury Capella Hotels brand plans to double its portfolio by 2030, starting with Florence and Riyadh
Travel & LeisureHospitality
Asia’s ultra-luxury Capella Hotels brand plans to double its portfolio by 2030, starting with Florence and Riyadh
By Angelica AngMay 8, 2026
1 day ago
Man driving and looking shocked.
Economygas prices
Driving less, canceling vacations, and tightening budgets: All the ways Americans are coping with soaring gas prices
By Tristan BoveMay 8, 2026
1 day ago

Most Popular

'Employers are increasingly turning to degree and GPA' in hiring: Recruiters retreat from ‘talent is everywhere,’ double down on top colleges
Future of Work
'Employers are increasingly turning to degree and GPA' in hiring: Recruiters retreat from ‘talent is everywhere,’ double down on top colleges
By Jake AngeloMay 9, 2026
17 hours ago
Ted Cruz says the quiet part out loud: Trump accounts are Social Security personal accounts as GOP senator reveals 'dirty little secret'
Politics
Ted Cruz says the quiet part out loud: Trump accounts are Social Security personal accounts as GOP senator reveals 'dirty little secret'
By Jason MaMay 9, 2026
13 hours ago
You're probably safe from the Hantavirus outbreak, but here's what you absolutely must not do, experts say
Politics
You're probably safe from the Hantavirus outbreak, but here's what you absolutely must not do, experts say
By Catherina GioinoMay 8, 2026
1 day ago
A Michigan farm town voted down plans for a giant OpenAI-Oracle data center. Weeks later, construction began
Magazine
A Michigan farm town voted down plans for a giant OpenAI-Oracle data center. Weeks later, construction began
By Sharon GoldmanMay 6, 2026
4 days ago
Red flag test: former CEO explains why he rejects job candidates who say they can start right away
Success
Red flag test: former CEO explains why he rejects job candidates who say they can start right away
By Orianna Rosa RoyleMay 9, 2026
18 hours ago
Companies are abandoning 'peanut butter' raises as pay-for-performance takes over the workplace in the AI era
Future of Work
Companies are abandoning 'peanut butter' raises as pay-for-performance takes over the workplace in the AI era
By Marco Quiroz-GutierrezMay 9, 2026
22 hours 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.