Talks of a trade war have everyone worried about the potential effects on agriculture.
Bill Mayer with Strategic Farm Marketing says China imports about 92 million metric tons of soybeans and that is about 64 percent of all of the soybeans in the world.
“I don’t think they necessarily have a lot of choice where they could quit buying beans from us,” Mayer told The Central Illinois Farm Network this week. “I think long-term, if they would take some action that may look like they’re trying to counter act our tariffs, that could be negative to the market.”
Mayer believes the U.S. will still be able to sell soybeans to China as we have in the past and they will likely buy from the cheapest source.
“That’s probably not going to change regardless of which way we go on the tariff thing,” Mayer said.