China is typically the destination for over a quarter of the U.S. soybean harvest. Now, U.S. farmers have a choice between selling at lower prices domestically or storing crops in hopes of a trade deal.

Some of the world’s biggest markets for U.S. crops aren’t buying as much as usual this year.

Candace Monaghan is the founder of the Beaver Dam Farm Sunflower Festival, an annual event at her family’s farm in Botetourt County, Virginia.

Last week’s Beige Book noted the effects of poor growing conditions and stricter loan practices, among other things.

Bloomberg found farm bankruptcies were up 55% in 2024. They’re trending even higher this year. 

If U.S. products get too expensive in China, American farmers are worried about losing a key market for things like chicken feet that people in many other countries don’t eat but are hugely popular in China.

As spring approaches, many farmers are unsure what crops they should plant and what the effect of tariffs could be.

Much of the food distributed by USAID comes from small farms across the U.S.

Soybean supplies are up because soybean production is up. And soybean production is up because of China’s demand for it.

The Federal Reserve’s easing of interest rates may be one factor that turned the mood around. Another could be the election.