General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums2019 Is The Year Farmers Will Feel The Pain From Trump's Trade Wars - Forbes
Chuck Jones
Senior Contributor
To understand the potential financial impact to American farmers it is important to know that corn and soybeans are the largest monetary crops in the U.S. per NASS, the U.S. Department of Agricultures National Agricultural Statistics Service. In 2017 the value of corn was $48.5 billion, with soybeans a close second at $41 billion. The next largest crop was hay, a distant third at $16.2 billion. For comparison, the value of apples grown in the U.S. was $4 billion and oranges was $2 billion.
From John Newton, Chief Economist for the American Farm Bureau, The USDAs prospective plantings survey results revealed farmers are planning to plant 92.8 million acres of corn and 84.6 million acres of soybeans. For corn, USDAs acreage estimate was above prior-year levels, above USDAs February projections and above the average trade estimate. For soybeans, USDAs estimate was below prior-year levels, below USDAs February forecast and below the average trade estimate.
He added, Generally corn and soybeans are in rotation. Soybeans have a lower cost of production but also have lower yields. But the recent rainfall and flooding could delay or reduce corn plantings for some in 2019 leading to more soybean acres than initially projected.
More: https://www.forbes.com/sites/chuckjones/2019/03/30/2019-is-the-year-farmers-will-feel-the-pain-from-trumps-trade-wars/#2796cc014838
nycbos
(6,038 posts)Pun intended.
LonePirate
(13,431 posts)Quixote1818
(28,968 posts)keithbvadu2
(36,906 posts)Cold War Spook
(1,279 posts)new machinery is going to cost more. American steel manufacturers are raising their prices since foreign steel costs more.
jmowreader
(50,562 posts)My parents subscribed to a newspaper in Eastern Washington for decades. The straw that broke the camel's back and caused them to cancel their subscription (they're still getting letters asking them to reconsider) was when their new publisher sent out a letter to their customers informing them that thanks to "tariffs and trade pressures" the price of newsprint rolls had doubled since the start of 2017.
Which is probably true, but in this case it's a sick joke: the Cowles family, who also owns the newspaper in question, has owned Inland Empire Paper Co. since the 1930s. They own a paper mill, a recycling mill, forestland to grow the few trees they need to make paper (all recycled paper has at least a small amount of virgin fiber in it; if you don't add some new fiber to the pot, the paper will come apart while you're trying to print on it), a truck fleet...
malaise
(269,157 posts)Important - get thee to the greatest page
bluestarone
(17,030 posts)They cannot get in the fields to plant. Not sure how many cattle died from floods. tRUMP might give another handout to keep them somewhat happy till after election.