Just days after the Trump administration pledged a $20 billion loan to backstop the finances of Argentina under libertarian President Javier Milei, China bought billions of dollars worth of soybeans from Argentina. The massive agriculture deal ricocheted through international markets, pressuring U.S. soybean prices and providing a bump to Argentina’s currency.
Prices that farmers are being paid for their soybeans are up since the U.S.-China trade deal announcement. But at Walsh Grain Terminal in northeast North Dakota, the recent per-bushel price under $10 still makes the oilseed a money-loser for most growers.
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“Expanding markets and restoring purchases by China will provide some certainty for farmers who are struggling just to hold on,” said American Farm Bureau Federation President Zippy Duvall.
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Still, farmers and industry analysts caution that tensions between China and the U.S. could deteriorate, putting soybean growers back in a bind.
