by Dick Hall-Sizemore

The 2025-2026 soybean harvest and market began in September with Virginia soybean farmers having lost their biggest customer as a result of Trumpโs tariff policies.
In 2023 (the latest year for which figures are available), soybeans were Virginiaโs top agricultural export at over $1.4 billion.ย Exports to China accounted for $784 million (56 percent) of that total. In retaliation for the high tariffs imposed by the Trump administration this year, China imposed a 20 percent tariff on American soybeans.ย That tariff, in combination with existing taxes and duties, pushed the overall rate on U.S. soybeans to 34 percent.ย As a result, U.S. soybean exports to China have been zero since May.ย As a Purdue University Center for Commercial Agriculture report recently noted, โThe U.S. soybean harvest began in September without any orders from the worldโs largest buyer: China.โ
Currently, Virginia soybean farmers, who increased the acreage devoted to soybeans from 500,000 acres in 2023 to 600,000 acres this year, face an unenviable situationโrising costs and decreased demand for their product.ย As Virginia Business explains, โComing into this year, many farmers were just hoping to break even because crop prices were weak while costs had increased.ย But Trumpโs tariffs, which helped make their crops uncompetitive around the world, drove prices down further, and tariffs on steel and fertilizer sent farming costs up even more.โย The Federal government estimates that soybean farmers will lose $100 an acre this year. With 600,000 acres in cultivation, that could translate into a total loss of $60 million for Viriginia soybean farmers this year.
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