Farm Bankruptcy rises

[Johnnyboxer]

Tough times is USA as farming bankruptcy rises 24%

Trade wars with China are one cause it is cited, with retaliatory high tariffs (on farm goods) being blamed

Farm troubles raise risk for Trump in trade talks https://www.bbc.co.uk/news/business-50427636

 

[Johnnyboxer]

Can't see Brexit being a smooth ride for us in the [emoji636] either

 

[Roger Perry]

Don't read too much into a report by an anti President Trump organisation, your BBC has been totally against his election from the get go..!
In that report it mentions the two go a'rounds of extra funding that have helped corn and bean farmers deflect the affects of the China trade dispute, talk to bankers in rural farm states and they will tell you that astute farmers are awash with Trump money, look at recent land sales across Iowa and Illinois then tell me things are dire.
Go talk to onion growers in my area of the southwest, several have had receipts in the $10-$20 million range this year with prices so high......never in their lifetimes have they been so rich, .......potato's............Alfalfa.........solid prices
Cotton prices are only fair but that check from Washington will square things............farmers will be OK

To fail in an enterprise is part of a capitalist societies playbook, when an enterprise fails its' a very sad event, but its' the only way because to prop up a failing system never ends well.

 

[lloyd]

Roger
What's your opinion on the USDA figures.
Looks like the main corn growing areas have
had half respectable yields.
Is there enough pp areas elsewhere to warrant
supply issues later in the trading season?

 

[marco]

I read somewhere that the trump administration had paid out billions to farmers whos grain in storage got destroyed in the floods in 2018 as it wasn't insured. But there wasn't a word about it in the mainstream media.

 

[Roger Perry]

I read somewhere that the trump administration had paid out billions to farmers whos grain in storage got destroyed in the floods in 2018 as it wasn't insured. But there wasn't a word about it in the mainstream media.

 

[Northeastfarmer]

They’ll be plenty of farmers going t!ts up over here never mind over there

 

[Roger Perry]

Very sad to say, if all you read is the "mainstream" media you are in danger of not knowing whats' really going on.

My part of the country does not grow soybeans, corn only for chopping so cannot comment directly, but reports from friends in corn/bean country suggest that although its been a tough year weather-wise crops have been half way decent. Modern genetics to the rescue.
Big problem is the huge overhang in store, until that diminishes somewhat there will be a lid on price.

 

[Roger Perry]

I read somewhere that the trump administration had paid out billions to farmers whos grain in storage got destroyed in the floods in 2018 as it wasn't insured. But there wasn't a word about it in the mainstream media.

Not heard that, maybe confused the numbers with the China trade tariff payola..?

 

[Pheasant Surprise]

Not heard that, maybe confused the numbers with the China trade tariff payola..?

Probably Chinese whispers.

(sorry couldn’t resist) #constipatedchinesechapemoji