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Trade war

US soybeans pile up as trade war tests Trump's support base

Latest farm data points to massive oversupply as China halts purchases

A worker inspects soybeans during a harvest. The U.S. will likely have another year of soybean abundance.   © Reuters

NEW YORK/CHICAGO -- Pressure is growing on the Trump administration to reach a trade deal with China as U.S. farmers struggle to find alternative markets for their crops, the latest agricultural data indicates.

The U.S. Department of Agriculture on Monday published a pair of highly anticipated reports on crop production as well as world supply and demand estimates. Even though soybean production is expected to fall nearly 20% in 2019 to 3.68 billion bushels, farmers are expected to be left with a surplus of 755 million bushels, only 5% less than last year.

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