The ongoing U.S.–China tariff war has sharply weakened soybean demand from China, leaving U.S. farmers — especially in the Northern Plains — facing historically poor basis levels.
The lack of Chinese buying has gutted export demand through the Pacific Northwest, where basis bids have eroded by more than a dollar per bushel in many areas.
Farmers across the Midwest report basis levels well below normal, with the harshest cuts in Minnesota and the Dakotas. Many farmers plan to store their soybeans in hopes of a rebound, while others remember similar struggles during the 2018 trade war. The American Soybean Association and transportation groups warn that without progress in trade relations, the damage to U.S. growers could deepen further.
Photo Credit: USDA
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