Farmers are storing soybeans and making plans to market the crop. In the meantime, Minnesota Soybean Research and Promotion Council CEO Tom Slunecka says the soybean industry is trying to secure markets that would normally buy from South America in the next few months. “Europe, the Philippines, Indonesia and Taiwan top the list of where we can send our beans,” says Slunecka. A strong U.S. dollar and already established relations between buyers and South America are two challenges for the plan. “Finding markets is a battle. If tariffs are dropped, the Chinese market can be regained.” Slunecka is confident U.S. soybeans can find a home, but diversification will be key moving forward.
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