Local farmers are seeing soybean prices fall as the U. S. and China remain at odds over trade and tariff issues. Farmers are not as active in selling grains to places like the Forest City Farmers Coop preferring to take a wait and see approach. Randy Broesder general manager of the co-op says that trade issue has caused a sixty two cent drop nationwide in soybean prices and reductions in prices on grains in general.
Kirk Leeds, chief executive officer for the Iowa Soybean Association, says soybeans are one of Iowa’s top crops and this continued spiral in prices is disheartening.
The initial cause came when the Trump Administration threatened to put high tariffs on steel and aluminum coming from China and China responded with threats of raising tariffs on a list of American goods, including soybeans.
Leeds says he and other members of the Iowa Soybean Association are in contact with the Iowa delegation in the U. S. House and Senate.
Leeds says they’ve gotten tremendous support from both Iowa U. S. Senators Chuck Grassley and Joni Ernst as well as from the U. S. Ambassador to China and former Iowa Governor Terry Branstad. Leeds says he’s taken around 25 trips to China over past 35 years, working to develop the trade relationship.