AN annual U.S. soy exporters’ conference wrapped up Wednesday without any known sales to Chinese buyers, in sharp contrast to previous years where billions of dollars of the main U.S. cash crop have been signed over to China in elaborate ceremonies.

The U.S.-China trade dispute has effectively halted bilateral trade of soybeans and U.S. farmers are concerned that soy export demand will fall short during their primary shipping season this autumn, when they expect to harvest a record-large crop.

Delegations from other countries inked deals for U.S. soybeans, but volumes were smaller than past deals to China.

A delegation of Chinese soybean importers did attend the U.S. Soybean Export Council’s (USSEC) annual conference in Kansas City, however. They toured a Missouri farm Tuesday, climbing aboard a John Deere combine before loading into a bus to eye nearly ripe soy plants.

The delegation, which includes many of China’s top soybean processors including COFCO and Yihai Kerry, as well as Chinese representatives of U.S. companies Cargill Inc. and Bunge Ltd., met with U.S. farmers, industry representatives and traders.

Top importer China bought more than US$12 billion in U.S. soybeans last year, about 60 percent of U.S. soybean exports, but has been mostly out of the market since China imposed a 25 percent tariff on all U.S. shipments July 6 in retaliation for U.S. tariffs on Chinese goods.

Soybeans are the greatest agricultural casualty so far of the dispute between the world’s two largest economies.

Mu Yan Kui, COO of Yihai Kerry, said China’s 2018/19 season soybean imports from all origins could tumble to 86 million tons, from 96 million in the current season, if the trade dispute persists. Hog and poultry feeders can drastically cut their demand for U.S. soy by tapping government stocks, scaling back soymeal use in rations and using alternative feeds like sunflower or rapeseed meal.

“If the trade conflict cannot be solved quickly and effectively, it will definitely reshape the global market,” he told conference attendees Wednesday.

Still, U.S. exporters said they were not willing to walk away from hard-won business, after investing between US$120 million and US$130 million in Chinese market development over the past 36 years.

“We made a conscious decision not to suspend our programs in China so we are continuing to operate our promotional and educational programs there. Part of that is bringing a delegation here,” said Jim Sutter, USSEC’s CEO.

U.S. soybean prices have tumbled about 18 percent over the past three months as the threat of tariffs shifted Chinese buyers to book soybeans almost exclusively from Brazil, the top exporter of the oilseed.

The industries in the United States and China have hosted purchase-agreement signing events up to three times a year in recent years, but have not done so since a ceremony last November in Beijing, said Zhang Xiaoping, USSEC’s director for China. (SD-Agencies)