For the farmers, the changing market share dynamics isn’t personal, it’s just business, according to Ryan Loy, assistant professor and extension economist for the University of Arkansas Division of Agriculture.Soybeans accounted for nearly 20% of the U.S.’s cash crop receipts in 2024, raking in $46.8 billion, according to data from the USDA. About one quarter of all soybean exports from the U.S. go to China, but retaliatory tariffs from China as a result of the ongoing trade war—which have reached 34%—have ...