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Minnesota Soybean CEO: China will remain profit “tipping point” for years

The CEO of the Minnesota Soybean Growers still sees China as a top soy export market despite ongoing trade disruptions.

Tom Slunecka tells Brownfield.

“Without a doubt China is still the tipping point of profitability for soybeans, and it will be for a long, long time.”

But he says it’s important for the U.S. to look beyond the Chinese market.

“We have been working very hard to find new markets over the last year, it will be some time before we find that volume anywhere else.”

Slunecka is encouraged by the latest meeting between U.S. and China trade officials.

“We’ve seen a jump in soybean prices in the last few weeks, which is definitely looking positive. And of course that meeting was important not just for soy but for all the products we create in agriculture.”

He suggests Egypt and Mexico are increasingly important markets for U.S. soybeans and says countries in eastern Europe hold a lot of potential.