Hey there! Have you heard about soybeans and corn? 🌽 They’re super important crops that help feed people and animals all over the world. Recently, something big happened between China and the United States involving these crops.
What’s the news?
Since mid-January, China has stopped buying soybeans and corn from the United States, according to a report by Nikkei Asia using data from the U.S. Department of Agriculture (USDA). This is a surprising move because the U.S. used to send a lot of these crops to China.
Why does this matter?
Last year, China imported more than 27 million tonnes of soybeans from the U.S., worth about $12.8 billion! That’s a huge amount. Soybeans are used to make things like tofu, soy milk, and even feed for animals. 🐮🐷
So, where is China buying from now?
Instead of buying from the U.S., China has been buying soybeans from Brazil. In fact, they recently signed contracts for 2.4 million tonnes of Brazilian soybeans! That’s about one-third of what China usually uses in a month. 🇧🇷
What are people saying?
Jim Sutter, the CEO of the U.S. Soybean Export Council, said in an interview, “China is a market that we don’t want to lose.” This shows how important China’s business is to U.S. farmers.
What’s next?
This situation is part of ongoing trade disagreements between the two countries. It’s like when friends have a disagreement and stop sharing their toys. Let’s hope they can work things out soon! 🤝
Reference(s):
China halted U.S. soybean, corn imports before tariff war: report
cgtn.com
