China is the biggest international market for U.S. soybeans and many other crops.
American companies and consumers can buy some of the excess commodities, but there's a limit to domestic demand.
Even though many commodities, like oil, were exempt from tariffs, the broader economic effects are likely to take a toll if they continue.
The Soybean Innovation Lab addressed poverty in sub-Saharan Africa, but it was also “a huge opportunity” for U.S. growers, says Peter Goldsmith of the University of Illinois.
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.
“Soybeans are down 18 cents today and then they could go up 50 tomorrow. Who knows?” said April Hemmes, a soybean farmer in Iowa.
It takes a “that’s farming, buddy!” attitude — and crop insurance helps, too.
Prices received by U.S. farmers are down 2.2% since last year. But you may not feel it at the grocery store.
April Hemmes was in the “Goldilocks spot” when it came to weather.