Soybean growers are 'optimistic' but skeptical after Trump's visit to China
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For months now, Minnesota soybean farmers have been caught in the middle of an international trade war that's led to a back and forth on whether their product will be sold to one of the world's largest buyers: China.
In November, the country agreed to buy 12 million metric tons of U.S. Soybeans, but it was still historically far below previous counts.
On Friday, during his visit to China, President Donald Trump said he struck a deal with Chinese President Xi Jinping for the foreign country to buy billions of dollars of American soybeans, and that farmers are “going to be very happy.”
Joe Smentek, executive director of the Minnesota Soybean Growers Association, said it still remains to be seen if the deal will be penned in ink.
“I remain really optimistically — I hope that they are going to be very happy,” he said. “Hearing it from one side is one thing, but not hearing it from the other coming out of Beijing is, you know, kind of leaving us hoping.”
Smentek added that some farms have already lost too much money waiting for buyers, and if Trump’s soybean deal with China happens, it may already be too late for them. “I don't think it's too late yet for everyone. Hopefully, we can correct some things to get back on track,” he said.
Listen to the full conversation by clicking the player above.
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