As prices hit new lows the additional $16 billion in farm aid papers over the long-term impacts to soybean farmers.
Share to twitterPat Sheldon, a corn and soybean farmer from Percival, Iowa, who may have lost $350,000 worth of stored corn and soybeans in the floods. March 21, 2019 The price of soybeans has plummeted over the past year since Trump started putting tariffs on Chinese products and China retaliated. The USDA estimates that the average price per bushel fell from $9.33 in 2017 to $8.60 last year. At 4.54 billion bushels that was a $3.3 billion impact to soybean farmers.
Farmers are able to rotate and change how many acres of soybeans they plant. However, there is an overall constraint that besides corn, there aren’t enough large markets of other crops to make up a large monetary shortfall. And even if they did it could depress the pricing for the alternative crop.President Trump mistakenly insists that the tariffs on Chinese goods are being paid for the Chinese.
Hu Xijin is the Editor-in-chief of Chinese and English editions of the Global Times. He is a proficient tweeter with many of them responding to Trump and his policies. If you want to get a perspective of the Chinese government, he is someone you should follow. Hu Xijin, Editor-in-chief of Chinese and English editions of the Global Times, publicizing China's increased soybean production.Hu also believes that the two countries will reach a trade agreement but that it won’t be anytime soon. He has had multiple tweets along these lines.
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