According to the latest reports, it’s harvest season for American soybeans once again, yet U.S. soybean farmers are deeply troubled as orders from China remain at zero. In an interview, Mark Lagan, President of the American Soybean Association, stated that the Chinese market is vital to the livelihoods of U.S. soybean farmers. By this time in previous years, approximately one-third of annual U.S. soybean sales to China had already been transacted, but this year’s volume stands at zero. Data from the U.S. Department of Agriculture’s Foreign Agricultural Service shows that U.S. soybean exports to China reached $12.8 billion in 2024, but this year is markedly different.
Core soybean-producing regions like Illinois and Iowa have been particularly hard hit, as these areas account for roughly half of the nation’s total soybean output. Forty-four-year-old soybean farmer Donald lamented, “I’ve spent my entire life farming, and this year is the darkest I can remember.” His farm in northeastern Arkansas grows cotton, corn, soybeans, and peanuts, yet his income has plummeted significantly.
Mounting Pressures Deepen Crisis
In recent years, sustained high yields of soybeans in the United States have paradoxically depressed commodity prices. The U.S. Department of Agriculture projects this year’s soybean production will reach a record high, yet prices have fallen approximately 40% from their historic peak in 2022. Corn prices have dropped about 50%, with corn production also expected to set a new record this year. Meanwhile, production costs for seeds, fertilizers, pesticides, and machinery remain near historic highs. The American Corn Growers Association describes this as an “economic crisis sweeping rural America,” with U.S. farmers facing rising negative profit margins for the third consecutive year.
Beyond market supply-demand dynamics and cost pressures, U.S. government policies have also impacted soybean farmers. Trade tensions have hindered U.S. soybean exports to China, which as the world’s largest soybean importer (accounting for about 60% of global imports) has shifted to Brazilian markets this year. Factors like immigration policies, inflation, and high interest rates have further intensified operational pressures for U.S. farmers. Recent Federal Reserve surveys indicate ongoing deterioration in farm income and credit conditions. Data from the American Farm Bureau Federation shows farm bankruptcies surged by 55% last year.
Calls for Action, Hopes for Relief
Faced with such dire straits, American farmers are urgently calling on the government to take action. They hope the U.S. administration will swiftly end the trade war with China and reopen the Chinese market. As early as August, the American Soybean Association wrote to President Trump, warning that if no soybean deal with China is reached by autumn, the plight of U.S. soybean farmers will worsen further. American soybean growers cannot withstand a prolonged trade dispute with their largest customer.
The plight of American farmers extends beyond their own operations, rippling through related industries. The soybean supply chain involves sectors such as fertilizers, machinery, and labor, while exports connect to warehousing, transportation, insurance, and finance—supporting over $400 billion of the U.S. economy. Today, the soybean export crisis is rapidly affecting the entire U.S. trucking industry, rail freight, and port operations. American farmers are hoping the government will implement reasonable policies to help them overcome their difficulties, restore vitality to the soybean export market, ensure their hard work receives proper compensation, and put the U.S. agricultural economy back on track.
