Rosendale-Backed Tariffs Cause China to Stop Buying U.S. Soybeans

Brooke BainumNews

Helena – In the wake of President Trump’s “brewing trade war” with China, American farmers’ worst fears are becoming a reality. China has begun to shun U.S. soybean suppliers, leaving the agricultural sector in a “cloud of uncertainty” as one of its most critical markets starts closing.

While Montana ranchers and farmers have voiced deep concerns about the impact Trump’s trade war will have on Montana’s wheat and beef exports to China, wealthy East Coast real estate developer Matt Rosendale has ignored Montanans and come out in favor of the tariffs, despite the harmful impact they are expected to have on Montana’s agricultural sector. As a Montana wheat farmer put it: “Rosendale’s unwillingness to stand up to these tariffs on China doesn’t jive with the opinion of any Montana farmer or rancher I know.”

ICYMI: Bloomberg: China Seen Jolting Soybean Market by Shunning U.S. Supplies
By Mario Parker
May 2, 2018

Key Points:

  • “The world’s biggest oilseed processor just confirmed one of the soybean market’s biggest fears: China has essentially stopped buying U.S. supplies amid the brewing trade war.”
  • “It’s ‘very clear’ that the trade tensions have already stopped China from buying U.S. supplies, [Bunge Ltd. Chief Executive Officer Soren] Schroder said. ‘How long that will last, who knows? But so long as there is this big cloud of uncertainty, that’s likely to continue.’”
  • Price volatility in farm goods has picked up in recent weeks as the saber-rattling between the U.S. and China intensifies.
  • Other agricultural products caught up in the dispute include corn, pork and sorghum.
  • Soybeans are the second-largest American crop and prices are heavily dependent on trade with the Asian nation, the world’s top importer.

Read the entire article HERE.

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