Dire consequences hit hardworking farmers across the heartland right in the wallet
Washington – Today, Congresswoman Cheri Bustos responded to a Bloomberg News article published this morning about how China has tripled its purchases of soybeans from Russia while canceling several shipments of soybeans from the United States.
Bustos, who is a member of Democratic House Leadership and a member of the House Agriculture Committee, represents the 17th Congressional District of Illinois where corngrowers, soybean farmers and pork producers have been hit hard as a result of the trade war President Trump triggered with China. Soybean farmers are being hit especially hard since a quarter of Illinois’ crop is exported to China every year. If Illinois was its own country, it would be the fourth largest producer of soybeans in the world.
“As a candidate, President Trump stood at a podium in 2016 and promised to ‘end this war on the American farmer.’ Now that China is canceling the purchase of American soybeans while tripling their business with Russia, it’s clear that this is just one more broken promise,” said Congresswoman Cheri Bustos. “This so-called Farm Bill that Washington Republicans are racing to pass does absolutely nothing to help hardworking farmers across the heartland who are getting hit in their wallet by President Trump’s reckless and impulsive trade war. Instead of moving ahead with their Harm Bill, Washington Republicans should work across the aisle on a truly bipartisan Farm Bill that will grow our economy and strengthen all Americans – from the pasture to the plate.”
By Anatoly Medetsky
China, the world’s biggest soybean importer, almost tripled purchases from Russia amid a trade dispute with the U.S., the biggest producer.
Russia sold about 850,000 metric tons of soybeans to China from the start of the 12-month season in July through mid-May, according to Russia’s agriculture agency Rosselkhoznadzor. That’s more than during any season before and compares with about 340,000 tons sold during all of the previous period, Chinese customs data show.
China has already canceled several shipments from the U.S. in anticipation of tariffs on the country’s products. While Brazil is expected to take much of that market share, Russia is also benefiting.
Russian supplies make up less than 1 percent of the 97 million tons of soybeans that China is set to buy overseas this season, U.S. government data show. Russia is a net importer of the oilseed, the data show.
Russian soybean plantings in the far east, the region nearest China, will probably remain little changed during the next season, at about 1.4 million hectares, said Daniil Khotko, an analyst at the Institute for Agricultural Market Studies, or IKAR, in Moscow. They may expand by as much as 20 percent during the next two to three years, he said.