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Details are unclear, but China and US resolving trade issues is welcome news for many farmers

A board member with the American Soybean Association says although there is no official deal between China and the US yet, there have been reports that China could purchase 30 to 40 percent more soybean products.

Brandon Wipf farms in east central South Dakota.

“Which would be fantastic if they actually follow through on that,” he says. “We sell about $14 billion in soy to them a year currently and, with a 40 percent increase, we would be knocking on the door of $20 billion a year.”

He tells Brownfield this is welcome news for soybean farmers.

“We rely on a very large appetite for soybeans in China,” he says. “It’s very necessary for growing soybeans to be profitable in the United States.”

Wipf says he hopes that farmer’s spirits are lifted by what appears to be a lessening of trade tension between the two countries.

“We’re glad to see us stepping back from the brink so to speak and we hope we don’t find ourselves there ever again or certainly not in the near future,” he says.

China and the US have put a hold on tariffs and China announced it intends to buy more US ag products.

Audio: Brandon Wipf, American Soybean Association