Caleb Ragland

And I think it's also a result of a choice that was made by the Chinese government to prove a point that when tariffs were put in place, retaliatory tariffs on soybeans, that was a result of all of our other trade war on the many other items and tariffs and

It was basically two strong-willed leaders escalated the fight.

And I would tell you that soybeans were the recipient of the backlash of the retaliation from the Chinese due to the fact that soybeans are the largest agriculture export that the United States has.

And China is the largest market in recent history of U.S.

soybeans.

Over half of all soybeans, the U.S.

exports historically have went to China in recent years.

So they're a bigger market than all other foreign markets put together for us.

Another interesting number, China consumes about 61% of all soy consumed in the world.

So they are a major, major market.

And it's hard to just say, well, just find another market.

Ignore the Chinese market because it's such a large percentage.

To give a few numbers on U.S.

soybean production and consumption, of all U.S.

soybean consumption, right at half of our soybeans stay here at home and are used domestically.

In that half,

About half are used with biofuels.

Another half are used with food, food consumption and livestock and other.

The other half of our soybean production is exported of that half.

About half has went to China and half has went to other markets.