U.S. Farmers Suffer As China Makes Record Russian Soybean Purchases Thanks To Trump's Trade War
Credit: Stock Photo
May 17, 2018

Russians are benefiting from President Donald Trump's trade dispute with China while U.S. soybean farmers are suffering from lost sales.

Bloomberg reported on Thursday that China nearly tripled its purchases of Russian soybeans, setting a record.

Russia sold about 850,000 metric tons of soybeans to China from the start of the 12-month season in July through mid-May, according to Russia’s agriculture agency Rosselkhoznadzor. That’s more than during any season before and compares with about 340,000 tons sold during all of the previous period, Chinese customs data show.

Meanwhile, China has reportedly stopped buying U.S. soybeans after Trump announced tariffs on Chinese steel.

“Whatever they’re buying is non-U.S.,” Bunge Ltd. Chief Executive Officer Soren Schroder told Bloomberg last month. “They’re buying beans in Canada, in Brazil, mostly Brazil, but very deliberately not buying anything from the U.S.”

Can you help us out?

For 17 years we have been exposing Washington lies and untangling media deceit, but now Facebook is drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or buy a year's subscription for an ad-free experience. Thank you.

Discussion

New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. When registering you will also be presented with the option to tie all your old Disqus comments to your new Insticator account. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.