As China, the world’s top soybean importer, shuns the U.S. market for a second growing season, North Dakota farmers are reeling from the loss of the customer they spent two decades cultivating k_plume
Grain storage bins in the foreground are surrounded by corn fields on Paul and Vanessa's farm near Colfax, North Dakota, U.S., August 6, 2019. REUTERS/Dan Koeck
For North Dakota, losing China - the buyer of about 70% of the state’s soybeans - has destroyed a staple source of income. Agriculture is North Dakota’s largest industry, surpassing energy and representing about 25% of its economy. Some farmers were relying on the Trump administration’s $28 billion in farm aid payments to compensate them for trade war losses, only to be disappointed with new payment rates for counties in North Dakota.
Vanessa Kummer’s farm in Colfax, North Dakota, has yet to sell a single soybean from the fall harvest because of the low prices. Normally, the farm would have forward-sold 50% to 75% of the upcoming harvest. Options for North Dakota farmers are limited. U.S. wheat has been losing export market share for years. Demand for specialty crops such as peas and lentils, which grow well in the northern U.S., has been dampened by retaliatory tariffs imposed by India, a major importer of both products.North Dakota’s farmers never set out to become so dependent on a single buyer of one crop.
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