Soy Beans

Soy Vey! Ohio Valley Farmers Caught Up in Trade War

Apr 5, 2018
Nicole Erwin/ Ohio Valley ReSource

 

China buys more than half of the soybeans produced in the Ohio Valley. While a new 25 percent tariff is just a threat from the region's largest buyer, the signs of a trade war between President Trump’s tariff list and China’s has farmers caught in its crosshairs. This all comes as the US Secretary of Agriculture Sonny Perdue visits the region this week.

Each morning Davie Stevens wakes up to check commodities online, Wednesday morning was no different, except the market price of soybeans had dropped almost 40 cents.

“At a projected crop of 4.3 billions bushels of soybeans this year. Soybean farmers by overnight have lost 1.72 billion in value. So is it a big deal? It's a huge deal.”