Soybean growers aren’t worried about storage

American farmers are not concerned about a lack of soybean storage despite slowed trade with the country’s largest customer.

The soybean market is caught in a months-long trade war between China and the U.S. Last week, for example, private exporters cancelled sales of about 180,000 tons of U.S. soybeans destined for China, Reuters reported.

Decreased trade means producers and processors will require more domestic storage for soybeans. Growers are optimistic, however, existing facilities can accommodate the increased loads.

“Bean yields in my area are probably above average,” Tom Griffiths, president of the Indiana Soybean Alliance and soybean producer from Kendalville, Ind., told Farms.com. “But the storage is going to be there for us. It hasn’t been much of a talking point around here.”