China Appears To Be Shutting Down Purchases Of U.S. Soybeans

For the first time in two decades, China bought no soybeans from the United States for two consecutive months and, more importantly, it also has no orders in for the coming peak season. Prior to President Trump initiating his trade war with China during his first term, it bought more than half of all U.S. soybean exports, with up to 70% coming during the peak October through January season.

Until January of this year, U.S. exports had topped $1 billion in 54 of the previous 62 peak months, with seven of those eight months that it did not in Trump’s first term.

With Trump back in office, that trade war escalated earlier this year, with the president threatening to impose tariffs as high as 145% at one point, and China countering by suggesting it would increase its retaliatory tariffs on exports from the United States to 125%.

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