Posted by sourgum on June 23, 2018 at 20:32:40 from (107.77.83.123):
In Reply to: TRADE WARS posted by Al Baker(pumpman) on June 23, 2018 at 10:15:27:
Around 90 million acres of soybeans growing in 2018 in the US. Normally 35 % are exported. If you are a grain buyer from China and you can buy our beans with a 25 % tariff surcharge or South American beans with no tariff surcharge you are not going to buy many US produced soybeans if any. The Midwest bean farmer in 2018 is going to take a big drop in farm income all to to equalize tariffs from foreign countries if push comes to shove. With no export business we could have a large oversupply of beans comes fall 2018 driving down prices lower than they are. South Dakota was on the news couple days ago and said they had projected soybean income losses to farmers at 625 million dollars from tariffs ....... that is just one state in the Midwest.
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