Soy leaders are keeping a close watch on tariff action out of the White House. China is a major buyer of U.S. soybeans, and economists warn the situation could quickly heat up.
“They dominate the global oil seed market and they import more than the rest of the world combined. And in 2018, when those Section 301 retaliatory tariffs went into place, we saw prices drop overnight by $2.00 a bushel and our market share evaporate. You know, USDA’s Economic Research Service put out a study assessing the economic damages done to us as a result of the trade. It showed $27 billion in losses for U.S. ag, and of that amount, our soybeans accounted for 71%,” said Virginia Houston.
President Trump has given both Canada and Mexico a February 1st start date for tariffs. Some ag leaders have warned the plan could backfire, while others support the move as an effort to boost U.S. trade.
NEFB President Mark McHargue provides an update from the Husker State, where farmers are working hard to bring in one of the largest harvests in recent years.
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Todd Miller, CEO of Head Honchos, shares about his business offering to ease agricultural labor shortages.
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Having a good read on fuel prices is a must during harvest, but one analyst says grain farmers should also be watching the crude oil markets.
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National Farmers Union (NFU) President Rob Larew discusses the urgent need for aid as farm families face mounting input costs and long-term market uncertainty.
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The new antitrust agreement between the Department of Justice (DOJ) and the U.S. Department of Agriculture (USDA) aims to enforce antitrust laws and monitor market activity across the ag sector.
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Large carryover stocks continue to put pressure on commodity prices, creating uncertainty for growers looking to market their grain.
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