Tariffs and talk of tariffs have already snipped 20 percent off of soybean farmer’s bottom lines, North Dakota Farmers Union President Mark Watne says, and he’s hoping that lawmakers will consider a fix to that problem in the upcoming Farm Bill, which is now headed into conference committee.
“It all depends on which days you pick,” Watne acknowledged, “but since this started, we are off about $2 a bushel (for soybeans). And it’s probably due to the rumors of a trade war and the rumors of loss of market and that some other country will fill those needs to China. Whether that all becomes true is hard to know ahead of time, but, if you’re a soybean farmer, you just took a 20 percent hit to the bottom line if you don’t have grain markets locked in ahead of time, or if you cannot hold it after harvest, or if prices don’t come back.”
The same general thing is happening to corn to Mexico and wheat to Canada, Watne said.
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