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Re: soybean farmers hang on for dear life

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soybean farmers hang on for dear life

 

I live in a rural area, a lot of farmland. Not big farms, 100 to 300 acres, farms over 400 acres are the exception not the rule.

 

I'm seeing a lot of soybean still in the field, it has been raining a lot here, but crops in the field this time of year is unusual.

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Re: soybean farmers hang on for dear life

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@gruffstuff wrote:

https://www.axios.com/american-soybeans-china-trump-trade-tariffs-eecdc72c-30d8-40db-895f-e38ecd9f9f...

 

U.S. soybean farmers hang on for dear life in Trump's China trade war

 

 

America's soybean farmers are hanging onto their crops in an attempt to wait out President Trump's trade war with China, more than doubling U.S. soybean inventories, reports Bloomberg.

 

The big picture: Retaliatory tariffs have drastically pushed down demand for American soybeans in China, easily the crop's largest market, with imports down by nearly 90%. And prices have fallen, too, as a bushel of soybeans now trades for less than $9 compared to more than $11 earlier in the year.

 

Between the lines: Unlike corn, soybeans don't store well, so farmers are risking their livelihoods for an economic detente that isn't guaranteed.

 

  • Soy had become one of the few bright spots in the American farming market given Chinese demand, so production has reached record levels just as demand crashed.
  • But many farmers have the same idea, pushing potential soy storage areas like containers and silos to the limit, forcing some to resort to one-time-use plastic bags. "I’ve heard farmers and commercial companies putting corn and soybeans into tool sheds and caves," Soren Schroder, the CEO of Bunge, the world’s largest processor of soybeans, told Bloomberg.

What's next: Bloomberg pegs soybean futures at $9.27 for next July, meaning that farmers could at least recoup some of their cash — even if it won't be at levels like earlier this year — as hope springs that the U.S. and China could reach a soybean deal at the G-20.

 

To add insult to injury, by cutting off the Chinese market for beans, lil DonnyDingbat has stuck the bean farmers with STORING their crops that should be in ships on their way to Shenzhen. The really good harvest has already filled the grainerys, and the harvest is not complete. Storage prices are at record highs, and the farmers cannot pay for the storage or repay the loans they took out to buy the grain to plant their fields.

 

Just like the hard working Americans who where thrown out of their homes because of Republican mismanagement of the mortgage business, farmers are going to be losing their farms because lil donny Trump and his supporters have no clue how the economy works. And guess who is standing their waiting to buy the foreclosed farms? THE SAME SNAKES FROM WALL STREET WHO BOUGHT ALL THE FORECLOSED HOMES!

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soybean farmers hang on for dear life

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https://www.axios.com/american-soybeans-china-trump-trade-tariffs-eecdc72c-30d8-40db-895f-e38ecd9f9f...

 

U.S. soybean farmers hang on for dear life in Trump's China trade war

 

 

America's soybean farmers are hanging onto their crops in an attempt to wait out President Trump's trade war with China, more than doubling U.S. soybean inventories, reports Bloomberg.

 

The big picture: Retaliatory tariffs have drastically pushed down demand for American soybeans in China, easily the crop's largest market, with imports down by nearly 90%. And prices have fallen, too, as a bushel of soybeans now trades for less than $9 compared to more than $11 earlier in the year.

 

Between the lines: Unlike corn, soybeans don't store well, so farmers are risking their livelihoods for an economic detente that isn't guaranteed.

 

  • Soy had become one of the few bright spots in the American farming market given Chinese demand, so production has reached record levels just as demand crashed.
  • But many farmers have the same idea, pushing potential soy storage areas like containers and silos to the limit, forcing some to resort to one-time-use plastic bags. "I’ve heard farmers and commercial companies putting corn and soybeans into tool sheds and caves," Soren Schroder, the CEO of Bunge, the world’s largest processor of soybeans, told Bloomberg.

What's next: Bloomberg pegs soybean futures at $9.27 for next July, meaning that farmers could at least recoup some of their cash — even if it won't be at levels like earlier this year — as hope springs that the U.S. and China could reach a soybean deal at the G-20.

 
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