thanks to trumps tariffs chinese purchases of soybenas are down 94%
total us bean exports are down by 3M bushels
prices have fallen to $7 a bushel,well under the 8.25 break even the farmes need
suicides are up in bean country
grain elevators are full and the beans are piling up on the ground
Trade wars are so easy to win.
America will find a use for those soybeans. I think I’ll make rice for dinner so the family will have an excuse to use some soy sauce.
elections have consequences.
Or maybe…just maybe we had a bumper crop this year…in fact a record.
U.S. farmers are expected to produce a record-high soybean crop this year, according to the Crop Production report issued today by the USDA’s National Agricultural Statistics Service. Up 4 percent from 2017, soybean production is forecast at record high 4.59 billion bushels, while corn growers are expected to decrease their production slightly from last year, forecast at 14.6 billion bushels.
But don’t allow that to get in your propaganda.
More information, even thou less acres were planted the crop yielded high.
Down 1 percent from last year, area for soybean harvest is forecast at 88.9 million acres with planted area for the nation estimated at 89.6 million acres, unchanged from the June estimate. Soybean yields are expected to average 51.6 bushels per acre, up 2.5 bushels from last year. Record soybean yields are expected in Alabama, Illinois, Indiana, Kentucky, Mississippi, Nebraska, Ohio, and Pennsylvania.
record high crop. 94% drop in imports by your largest customer…
just what the farmers needed. they can thank trump for the beans piling up
I wonder if they intentionally planted so many soybean plants that they would guarantee they would lose money on every bushel. It sounds like something a bunch of Trump supporters would do, but even a blind monkey would probably consider the consequences of such a dumb action.
Read the OP. It will help understand why the surplus grown is not relevant to the discussion. Or don’t-but the thread isn’t about the surplus…it’s about the biggest buyer cutting almost all of its business.
so this has nothing to do with China cutting their import by 92%?
Whatever they lose per bushel, they can make it up in volume.
Soybeans is a global commodity. If China is going to buy just Brazilian beans it drives up prices for their beans…Europe will then buy ours.
Not much different then oil as global commodity.
Last couple years we had great growing seasons, with no massive floods or droughts.
It cracks me up how so-called conservative capitalists applaud Trump for applying anti-capitalist, protectionist Democrat tariffs just because it’s Trump. I’m fully convinced Trump could come out tomorrow singing the praises of the ten pillars of communism, and the rest of us wouldn’t be able to hear each other over the roar of the applause from Trump’s strident sycophants.
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Europe buy like 1/20th the amount China does.
China is America biggest Market for Soybeans by a landslide.
Yes that’s correct. Even if Europe does buy what hey said would do it would only be about 35 percent of what we did sold to China.
But do you know who is south American big customer?
Can you name that country?
If you say India you’re correct. I suspect you will start seeing India buying up the grain because China drove up the prices for south America.
China has been Brazil biggest market for a good while now
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Yeah, they’ll buy ours at a loss after they sell theirs at a profit. Brilliant
So what should we do? Keep sending ~$400 Billion a year to China and let them rape us because the solution is uncomfortable? I don’t like seeing a farmer suffer but I also don’t like kicking the can down the road and watching the entire nation suffer worse. I think the fact that not only the US but Brazil both had bumper crops is also part of the low prices, not just the cut on imports from China. Personally, I think we waited way too long to stand up to China which is why we’re in the position we are. I like free trade but let’s not pretend China has been engaging in fair competition with the US over the last ~20 years. Push back to China is necessary at this point in my opinion.
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India doesn’t import large amounts of Soybeans.
