As farmers are gearing up for the spring planting season, some producers may be inclined to rethink their planting intentions after China threatened a potential 25% tariff on U.S. soybean imports. In last month’s Prospective Plantings report, USDA estimated farmers this season would plant more soybeans this year than corn – for the first time since 1983.
Some analysts warn that the proposed Chinese tariffs on U.S. soybeans could have a tangible impact on trade – even if they don’t go into effect.
On Wednesday, Sabrina Hill visited with Monte Peterson, Vice Chairman of the U.S. Soybean Export Council.