A new U.S.-China soybean deal may provide short-term help for Arkansas farmers but is unlikely to resolve deeper financial challenges, state agriculture experts told the Arkansas Democrat-Gazette on Thursday.
China has agreed to purchase about 13.2 million tons of U.S. soybeans by January under a trade deal announced this week by President Donald Trump and Chinese President Xi Jinping. For the next three years, China will buy at least 27.5 million tons annually — roughly in line with recent totals.
Soybean futures rose 1.2% Thursday to $11.07 per bushel, the highest in a year, said University of Arkansas economist Scott Stiles. But he and others said prices remain below profitable levels for most farmers.
“This is a positive step, but not enough to fix the financial strain many producers face,” said Andrew Grobmeyer of the Agriculture Council of Arkansas.
Read the full article from the Arkansas Democrat-Gazette here. Subscription may be required
Have a news tip or event to promote? Email White River Now at news@whiterivernow.com. Be sure to like and follow us on Facebook and Twitter. And don’t forget to download the White River Now mobile app from the Google Play Store or the Apple App Store.
Get up-to-date local and regional news/weather from the First Community Bank Newsroom on Arkansas 103.3 KWOZ every weekday morning and afternoon. White River Now updates are also aired on weekday mornings on
93 KZLE, Outlaw 106.5, and Your FM 99.5. Catch CBS News around the top of every hour on 1340 KBTA.
