After years of increasing the amount of soybeans they planted as China’s demand for the crop grew, many growers across the U.S. farm belt are planning to return to two old staples next year: corn and wheat.
That shift comes as farmer struggle to sell their soybeans amid President Donald Trump’s ongoing trade war with China, Reuters reports.
Driven by demand from China — which typically buys about 60 percent of U.S. soybean exports — American farmers this year planted more acres of soybeans than corn for the first time in 35 years.
That left them especially vulnerable when China imposed counter-tariffs on U.S. soybeans, causing demand for the exports to evaporate.
Now, local cash prices for some farmers are below the $8.50 per-bushel price needed to cover costs.