The American Soybean Association (ASA) appreciates President Trump and his administration for prioritizing America’s farmers in today’s announcement regarding U.S.–China trade. After months of stalled purchases and uncertainty, this is a very positive development for soybean farmers who rely on open markets.
“Today’s announcement is great news for American agriculture, and soybean farmers are extremely grateful to President Trump for making soybeans a priority in negotiations with China,” said Caleb Ragland, ASA President and soybean farmer from Magnolia, Kentucky. “This is a meaningful step forward to reestablishing a stable, long-term trading relationship that delivers results for farm families and future generations.”
While details are still emerging and to be confirmed, we understand that today’s announcement includes minimum purchase commitments of 12 million metric tons of U.S. soybeans for the remainder of this marketing year and a minimum of 25 million metric tons annually through 2028. ASA is encouraged that these commitments are framed as minimums and looks forward to continued growth in soybean purchases beyond these levels. China has historically purchased 25 to 30 million metric tons of U.S. soybeans in recent years, and today’s commitments lay a strong foundation to return to those traditional volumes over the coming marketing years.
ASA looks forward to continuing to work with the administration to ensure today’s positive developments lead to lasting market stability and stronger opportunities for U.S. soybean farmers.
