DELMARVA — Soybean farmers on Delmarva say tariffs between the United States and China are squeezing an already fragile industry, raising fears that one of the region’s key crops could face steep losses if trade tensions continue.
China, the world’s largest buyer of U.S. soybeans, purchased about 25 million metric tons in 2023 and 2024. But a 20% retaliatory tariff on American soybeans has shifted demand toward South America, particularly Brazil. Data from the American Soybean Association projects Brazil will supply 60% of global soybean imports in 2025 and 2026, while the U.S. share will drop to just 26%.
“Well, the lower prices, and if something doesn’t get done in a hurry, then the market will be lost. That’s the greatest fear,” said John Comegys, a farmer and member of the American Soybean Association.
Comegys said the impact will be broad. “The tariffs affect farmers here in Delmarva and across the country, not just the prices we see, but the input prices. The price of everything we buy has increased greatly. We’re being squeezed on both sides.”
Aaron Thompson, another local farmer, and member of the Mid-Atlantic Soybean association compared the financial strain to a sudden cut in household income. “The best way to explain to somebody, it’s like living in a household and your paycheck gets cut maybe by a third or by half. So that’s what we’re facing right now.”
Thompson said the loss of overseas demand is major.
“It’s creating less demand with the soybean, with the lack of trade. It’s creating less demand for soybeans to be moved overseas to export markets and lowering the price with our high input costs, creating thin margins for us to survive on.”
Farmers warn that if a deal isn’t struck to ease trade restrictions, years of investment in soybean production could be hindered.