EAU CLAIRE, Wis. (WEAU) – As President Donald Trump continues his trade war with China, Wisconsin farmers are seeing impacts to business. Soybean farmers in particular export a large chunk of the yields to China.
Given the tariffs imposed on the country, China looks to our south in Latin America for cheaper soybeans. American soybean farmers have historically exported product to China more than any other country.
Soybeans can be used in a lot of things from animal feed to fuel and more.
Wisconsin farmers like Phil Verges see strong yields coming from steady soybean acres. That is something he believes is leading to more supply with less demand to unload.
“I’d say we’re in negative margins right now. We were last year, and even this year with better yields, with the prices where they’re at, we’re at negative margins. So it’s a very brutal impact,” said Verges.
He said the tariffs have increased the price of fertilizer.
Soybeans are exported to Mexico and Canada. There are tariffs imposed on those countries too.
President Trump recently announced new support is coming to farmers.
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