Soybean Market Starting To Stabilize

Soybean farmer

Soybean Market Starting To Stabilize

Losses in sales to China stemming from an escalating trade spat are causing political headaches for Trump and farm state Republicans in Congress that Europe won't be able to relieve. "You can't keep doing something that loses money and remain in business for a long period of time".

Over the past six months, President Trump has imposed significant new tariffs on USA imports. And it's definitely clear that this one-time payment won't make up for the fact that US farmers are suffering through the fifth consecutive year of low prices. Altogether, the president's proposed tariffs could increase nationwide consumer costs by almost $40 billion annually.

For U.S. soybean farmers, they'd prefer a stable export market than a relief check issued by the government.

This emphasis on overproduction isn't an accident - it's the result of decades of corporate influence over our farm policy that means that farmers sell into corporate-controlled markets that don't have enough competition to ensure they can get a fair price.

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Trump said the European Union was going to start "to buy a lot of soybeans" after a deal last month in which the European Union offered measures he could sell to voters ahead of November elections. However, Perdue cautioned: "Obviously this is not going to make farmers whole".

"The European Union can import more soybeans from the USA and this is happening as we speak", Juncker said.

"The EU needs to open its markets to real free trade", said Bystron, adding that the EU now has over 12,000 different tariffs on different products. "We wouldn't need a handout, and hopefully we could get right back to where we were". The tariff also affects apples and cherries, which are big crops in our state.

White House economic adviser has said he expected to come with a "significant" trade offer.

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