American Soybean Association celebrates US-China announcement

The American Soybean Association said it appreciates President Donald Trump and his administration for prioritizing America’s farmers in the Oct. 30 announcement regarding U.S.-China trade.

While details are still emerging and to be confirmed, ASA said as the association understands it the 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.

After months of stalled purchases and uncertainty, this is a positive development for soybean farmers who rely on open markets, ASA stated.

China has historically purchased 25 to 30 million metric tons of U.S. soybeans in recent years.

“The Oct. 30 commitments lay a strong foundation to return to those traditional volumes over the coming marketing years,” the organization stated.

“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,” Ragland added.

ASA said it is encouraged that these commitments are framed as minimums and looks forward to continued growth in soybean purchases beyond these levels.

ASA added that it looks forward to continuing to work with the administration to ensure these positive developments lead to lasting market stability and stronger opportunities for U.S. soybean farmers.