President Donald Trump's trade war will change forever the way top importer China buys its soybeans, reports AgWeek.
That's according to Archer-Daniels-Midland Co. The tit-for-tat tariff spat, which has already shrunk purchases of American beans, probably will mean China will try to reduce its dependence on the U.S. by buying from elsewhere and improving yields of its own production, ADM Chief Financial Officer Ray Young said.
ADM is still positive that the spat will be resolved at some point, bringing more purchases of U.S. agricultural commodities including soybeans and ethanol. But long-term, the U.S. needs to wean itself off China and find other uses for soy and corn, according to the firm.
