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Soybeans are the leading American farm export to China.
Earlier this year, Mr. Lamy offered to eliminate the European Union's $3 billion in farm export subsidies.
However, the summiteers agreed to a compromise deal that ends farm export subsidies by the United States and the European Union by 2013.
The drought is now affecting 88 percent of the corn crop, a staple of processed foods and animal feed as well as the nation's leading farm export.
On one side are countries such as the US, Australia, Brazil and Canada which are are demanding abolition of farm export subsidies.
Soybeans, which are mainly crushed for oil and used as animal feed, are the biggest single United States farm export to China, according to the American Soybean Association.
Similar(48)
It has relied on taxes on farm exports.
Last year, EU farm exports to Russia were worth €11bn (£9bn).
The discovery prompted food recalls and disrupted farm exports.
Prices of farm exports increased 2.2 percent, while those of nonfarm goods climbed 0.3 percent.
Prices of farm exports rose 0.7 percent, while those of nonfarm goods were little changed.
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