Donald Trump, Soybean Farm
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China for months earlier this year had boycotted purchasing soybeans from U.S. farms because of a trade war began by President Donald Trump.
By Karl Plume CHICAGO, Dec 9 (Reuters) - The U.S. Department of Agriculture left its U.S. soybean export forecast unchanged in a monthly report on Tuesday as sales resumed to China, which for months shunned purchases because of its trade war with Washington.
The soybean market has held up well this year despite trade tensions between the US and China. Read more here.
President Trump announced a $12 billion relief plan for American farmers on Monday, primarily targeting farmers who grow corn and soybeans.
Treasury Secretary Scott Bessent extended an earlier deadline for Beijing’s purchases of American soybeans from December to February. Bessent said China is on pace to meet its pledge to buy 12 million metric tons of U.S. soybeans by the end of February.
The Treasury Secretary said on Sunday he recently shed his holdings to comply with his federal ethics agreement.
Midwest agronomists suggest farmers consider reducing soybean plant populations based on 2025 observations, plus other tips for boosting crop performance.
U.S. Treasury Secretary Scott Bessent, a key figure in implementing President Donald Trump's economic agenda including tariffs, disclosed on Sunday that he has recently divested his interests in a soybean farm to comply with the ethics agreement he signed last January when he joined the administration.
Soybean oil, used for cooking in more than half of American households, is linked to a higher risk of obesity in a new study.
Now, the president is going to bail out farmers with a $12-billion aid package to solve the problem that he created? Wouldn't it have made more economic sense not to impose the tariffs to begin with?,