How Important Has China Been To U.S. Farmers (Last 5 Years)?

RANDY P. KROTZ

ST. LOUIS, MISSOURI

China has played a significant role in U.S. agriculture over the past five years. As the world’s largest food market, its buying decisions strongly affect American farmers, prices, and rural communities. During this period, trade tensions, agreements, and changing demand in China have created both significant opportunities and sudden challenges. 

Farm Exports to China by Year

• 2019: ~$13.8 billion in total exports.
  • Soybeans: Around 16.26 million metric tons in the 2019–20 marketing year.
  • Corn: Made up 31% of U.S. corn exports during that marketing year.
• 2020: ~$26.4 billion total.
  • Soybeans: Jumped to 31.12 million metric tons exported to China.
  • Corn: China accounted for 32% of U.S. corn exports, or about 888 million bushels.
• 2021: ~$33 billion total.
  • Soybeans: Continued strong demand, though exact tonnage not noted in sources.
  • Corn: Exports to China valued at $18.7 billion, a considerable share of the U.S. corn trade.
• 2022: Record-high ~$36.4 billion total.
  • Soybeans & Corn: Still very strong, though not broken down in the data.
• 2023–2024: Exports dropped to roughly $25–30 billion total.
  • Soybeans (2023–24 MY): U.S. shipped nearly 25 million metric tons to China.
  • Corn (2024/25 season): Purchases fell to less than 1% of U.S. corn exports—about 33,000 metric tons.

Why It Matters

• Soybeans: China’s buying power has been massive, going from about 16 million tons in 2019–20 to more than 31 million tons in 2020–21. Even as imports slowed, China remained the top destination for U.S. soybeans.
• Corn: China once took nearly a third of U.S. corn exports, but by 2024, it bought almost none. This sharp swing shows how unpredictable China’s role can be for U.S. grain farmers.

Conclusion

Over the past five years, China has been both a lifeline and a risk for American farmers. Soybeans and corn, in particular, have felt the most significant impacts—rising sharply during times of high Chinese demand, then dropping just as quickly when China turned to other suppliers. While export totals peaked in 2022, even the lower levels of 2023–24 still placed China among the most critical U.S. farm export markets. For farmers, the lesson is clear: China remains vital, but its buying habits can change overnight, bringing both opportunity and uncertainty to rural America.

The author utilized AI resources for support related to agricultural export data.    ∆

RANDY P. KROTZ

CEO AGWIKI, INC.