27.5 million tons of US soybeans expected to go unsold: direct consequence of Trump trade war

[riversedge]

27.5 million tons of US soybeans expected to go unsold this year as a direct consequence of the trade war with China


https://www.businessinsider.com/trump-china-trade-war-25-million-tonnes-of-us-soybeans-to-go-unsold-2019-2

Callum Burroughs


Feb. 22, 2019, 6:42 AM





donald trump make farmers great again Scott Olson/Getty Images

Chinese soybean demand is still low, causing a massive oversupply problem and a major headache for US soybean farmers.
The US soybean supply has risen dramatically as the trade war takes its toll, with $7.9 billion lost by US farmers in the past year, according to US Department of Agriculture officials.
Robert Johansson, the chief economist of the USDA, on Thursday forecast that roughly 27.5 million tons of US soybeans would go unsold in 2019 as a direct consequence of the trade war.
The US agricultural trader Bunge reported a $125 million fourth-quarter loss in the soybean market, citing "factors related to China trade and demand."

The trade war between Washington and Beijing has had a major impact on the US agricultural space over the past two years, with the latest US Department of Agriculture figures shining a light on the difficulties faced by farmers during the dispute. ...................................

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[Achilleaze]

1. The republican Draft-Dodger-in-Chief* has pissed all over USA farmers

and now he is bribing them with $7.7 billion of our tax dollars to keep voting for the republicans who have destroyed their livelihoods.

republicans are weakening America with their stupid policies, and degenerate behavior.

[panader0]

2. 27.5 million tons!

That's like enough to feed everyone in the US for a year.
Unbelievable.

[Farmer-Rick]

3. Now why do we need that much soy?

27.5 million tons of US soybeans. Why do we need it? We aren't eating it.

We are poisoning our farm lands with petroleum based fertilizers that run off into our devastated water ways. Then we pour round up on it and plant GMO soybeans killing most of the underground microbiology. This is soon followed by several doses of deadly poisonous insecticides that would kill the farm workers if they were not protected. This poison is dumped on our farm land by the tons, killing most of the birds that come into contact with it yet leaving behind some really nasty insects. Then they spray to kill molds, mildew and fungi ensuring the soil is dead. Then one final spray with Round up again because its been shown to allow for a cleaner harvest. And I wont even go into the chemicals used on the mass excessive amounts of soy bean to keep it from rotting while in storage.

All this permanent destruction of wildlife and natural soil biology so some rich man can get richer. You do know farmers don't own most of these huge 100,000 acre farms. They are owned by corporations and conglomerates. Once in awhile a rich farmer owns it privately but most of the farms are huge corporate investments designed to get the most out of the depleted land.

Now tell me again how efficient capitalism is.

[mitch96]

4. "US soybeans expected to go unsold"

Then I don't understand why they are still pricy at the stores... It would be neat if world food organizations bought them at a good price and fed the world. Yes farmers would not make the previous profits but at least they would get rid of the excess and make a bit of money... Better than rotting with no profit.. Hello Bezos, Gates, Buffett and Zuckerberg.
Put your money where your mouth is... Seems like a no brainer to me...
m

[RainCaster]

5. Winning

Are you tired of winning yet?

[Bantamfancier]

6. FYI

Just a little background.

USDA estimated about 90 million acres were planted to soybeans in 2018.

27.5 million tons converts to roughly 23 million acres of beans.

That's right at 1/4 of all bean ground.

A lot of guys aren't going to be able to plant a crop this year because of that orange fart.

[shanti]

7. Going to feed pigs instead?

Oh wait...

[DFW]

8. Making America Generate Alotta Tofu n/t

[Hortensis]

9. And supposedly credit is tightening up for farmers,

many of course who are struggling to get through this somehow.

Looking farther ahead, I read that a couple of drier years in the midwest could be a signal that the 20-year wet cycle could be coming to an end. In the past, these cycles have alternated with dry cycles approximately every 15-25 and sometimes 30 years. Who knows these days, but this of course would require a lot of farmers to shift to other crops.

[flotsam]

10. Ummm

Aren't there people going hungry in Venezuela and North Korea? Seems like that might be a better use than letting them rot...

[ooky]

11. He's paying the farmers socialist bailouts with our tax money.

Everybody loses.

[Gothmog]

12. trump lost this trade war and our farmers are paying the price