In an interview with the Xinhua News Agency reporters on the 13th, U.S. Soybean Export Council. President David Stephens pointed out that US bean farmers are frustrated and have suffered serious losses over the months of the unresolved US-China economic and trade frictions provoked by the US. He hoped that, the US and China may reach a mutually beneficial and win-win agreement as the soon as the possible, cancel the tariffs imposed on each other, end the trade disputes and resume normal trade exchanges.

Stephens said soybean futures prices have fallen by the more than USD 2/bushel in the past year due to the economic and trade frictions between the United States and China, significantly affecting soybean farmers earnings. Data from Chicago Board of Trade reveal that soybean futures for July delivery closed at the USD 8.025/bushel on the 13th, falling to a 10-year low. U.S. Bean farmers are “unwilling to continue” to be hurt in the endless tariff war and urgently need to restore the Chinese market.