American farmers are facing financial strain as China halts purchases of U.S. soybeans. Iowa soybean farmer April Hemmes joins explains.

Iowa

Soybean exports from the United States to China have ceased after the imposition of tariffs by both countries. Previously, China was a major buyer, purchasing at least a quarter of all U.S. soybeans, but recent Department of Agriculture data shows exports have dropped from nearly $18 billion to zero over the past three years.

Iowa farmers, such as April Hemmes, report that while local demand for soybeans remains due to livestock feed and biodiesel production, the lack of exports is causing financial strain, particularly for farmers in other states. With production costs exceeding market prices and limited storage options, many growers are facing losses. The situation is compounded by China turning to other suppliers like Argentina, and government support payments are not fully offsetting the increased costs.

Iowa soybean farmer says 'export to China just isn't there'

So a pivotal part, that is, of the trade relationship between the U.S. and China, soybeans. As we've been talking about, typically Beijing buys at least a quarter of all soybeans grown in the U.S. But China has not bought any since May when Trump imposed tariffs on Chinese goods. China retaliated with a steep duty of its own on American soybeans. That makes other countries a cheaper option, as we've been saying. So data from the Department of Agriculture shows the value of soybean exports to China in recent years. In 2022, American farmers sold nearly $18 billion worth of soybeans to China. In 2023, that number was more than $15 billion. In 2024, more than $12 billion. Now it's zero. So I want to bring in April Hemmes, a soybean farmer from north central Iowa. Thank you so much for joining us, April. With China no longer buying, how are you feeling the impacts? Yeah, well, in Iowa, where I'm from, we're very lucky because we feed a lot of livestock and have biodiesel plants. So I have the option to either sell to a cargo plant or my co-op. But they, after the domestic use is over, export to China just isn't there. And the poor North Dakota and South Dakota farmers have nowhere to go with their soybeans. Or, you know, if you have to store it, they're charging, commercial storage is charging a lot just because they can't get rid of those soybeans where we're normally exporting them. All right. So we're talking about all of this back and forth between the U.S. and China. Soybeans is the topic. Farmers then have to think about the next crop. So what's the conversation there? How are they factoring this into the future? Yeah. So with agriculture, especially with soybeans, I'm calling it everything, everywhere, all at once because our inputs are very high. And if I, every bushel of soybeans I raise next year will, the average cost is $11. And what I can sell it for is less than 10. So I would essentially be losing a dollar a bushel for every soybean I raise next year. Now, that's not a very great scenario for soybean farmers. So we can either store and, you know, hope for better prices, you know, or put it in the ground and wait till next year. So China's in this for the long haul. They bought from Argentina when they usually would buy from us. So that's a negative, more insult to injury for U.S. soybean farmers. So we're hoping they come to an agreement soon. Yeah. Let's talk about that. China recently agreed to throw Argentina a $20 billion financial lifeline. Argentina is a competitor in the soybean business. So how do you feel about that move? Well, that was, like I said, insult to injury. That was our, you know, our hope now because right now I just wrapped up soybean harvest. Now is when China buys the majority of their soybeans because we're in the middle of harvest. Our beans are cheap. It's very abundant. Then Argentina takes off their export tax and China comes in in two days and buys their needs for the next few months. So they don't, as far as soybeans are concerned, they don't have a reason to negotiate until really later next year. And that's when Brazil comes into play. So it's it's not very encouraging for soybean farmers these days. Oh boy. Let's talk about President Trump threatening trade retaliation against China over this soybean dispute. So he's also floated the idea of using tariff revenue to help support struggling farmers. So what do you want? Every farmer you talk to will say we want free and fair trade. We know that's almost an impossibility, but that's truly what we want. And studies have been done where 70 to 75 percent of any money we get from the government, those kind of payments, goes to the input. So my fertilizer won't come down, the rent for my land, because those people know we're going to get a payment. So, you know, that's the loop we're caught in these days with these government payments. It does not all go into the farmer's pockets. It just goes to put in the crop I have for next year. Well, April Hemis, I appreciate your time. You seem like a sunny side up person. Hang in there and we'll talk to you soon. So.

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