U.S. soy seen permanently losing China market share in prolonged trade war

Soy bean seeds are seen in a container at a farm in Gideon, Missouri, U.S., May 16, 2018. REUTERS/Shannon Stapleton

CHICAGO (Reuters) - The United States is likely to permanently lose soybean export market share in China the longer U.S.-China trade talks drag on, a top executive at the U.S. Soybean Export Council (USSEC) industry group said on Friday.

China is also unlikely to ever return to importing record volumes of U.S. soybeans, as the world’s top soy consumer did as recently as 2016, even if trade talks between the two countries wrap up promptly, said Paul Burke, USSEC’s senior director of U.S. soy marketing, on a conference call with the media.

Reporting by Karl Plume in Chicago; Editing by Richard Chang