For American farmers, soy tariffs are the least of their worries
The 2017 harvest was a record breaker. More soy means lower prices. Not even midwestern floods have had an impact on all that supply. Soy prices have been falling since 2012 because of this supply boom. Prices paid to farmers haven't been this low since 2006.
"With depressed prices and unsold stocks forecast to double before the 2019 harvest begins in September, we need the China market reopened to U.S. soybean exports within weeks, not months or longer," says Davie Stephens, a grower from Clinton, Ky., and president of the American Soybean Association. Considering Chinese government entities can avoid their own duties, the U.S. is not priced out of the market. China is using soy as a weapon in its trade war arsenal and will continue to use it as leverage so long as tariffs are in place. China has promised to buy more soy once a trade deal is announced, suggesting a big boost in export volume if and when that day comes. This is very much a moving target.
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