OMAHA, Nebraska — American farmers welcomed China’s promise to buy some of their soybeans, but they cautioned this won’t solve all their problems as they continue to deal with soaring prices for fertilizer, tractors, repair parts and seeds.
The Chinese promise to buy at least 25 million metric tons of soybeans annually for the next three years will bring their purchases back in line with where they were before President Donald Trump launched his trade war with China in the spring. But the 12 million metric tons that China plans to buy between now and January is only about half the typical annual volume.
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