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Aug 13 - More Victims of trump's Trade War; Corn Farmers Facing $3.5 Billion Loss


 
 
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 2 weeks ago '10        #1
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Bandito 276 heat pts276
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Aug 13 - More Victims of trump's Trade War; Corn Farmers Facing $3.5 Billion Loss
 

 
American farmers already stung by President Donald Trump’s trade wars now face billions of dollars in potential losses as controversial data from the U.S. government snuffs out a rally in corn.

The Agriculture Department on Monday said farmers planted a bigger corn area than analysts estimated and pegged crop yields that also exceeded expectations, sparking the biggest rout in futures since 2013. That was a blow to growers who were holding back supplies, hoping a rally that started in May due to delayed sowing would extend through the fall.

The decline represents a potential loss of almost $3.5 billion for U.S. farmers, according to the American Farm Bureau, and is another setback for them after prices fell following the USDA’s previous acreage report, which was widely criticized for containing outdated data.

The latest data is compounding the pain from the trade war between Washington and Beijing, which has significantly reduced purchases from the world’s largest soybean buyer. Policy uncertainty has also hit the farm economy as a new U.S. deal with Mexico and Canada is yet to be passed. What’s more, the government is allowing 31 oil refineries to go without blending ethanol into fossil fuels, hurting demand for corn.

“This is a huge disappointment for farmers that have already been struggling with a lot of uncertainty with this corn crop, trade wars and what have you,” said Tanner Ehmke, manager of the research team at*CoBank, a $138 billion lender to the agriculture industry. “A lot of people were banking on the opportunity to sell at much higher prices. This report now really brings that into question.”

Crashing corn prices are an additional stress for growers facing huge farm debt, which the USDA estimates will rise 3.9% this year to $427 billion. Last year, farm debt-to-income was at the highest level since 1984.

Farm Income

While farm income remained weak in the second quarter in the tenth district, the pace of declines had slowed partly as the slowest corn plantings on record boosted prices, according to the Federal Reserve Bank of Kansas City.

The USDA pegged planted corn acres at 2.6% higher than expected while yields came in 2.8% above. Growers who were already disappointed by the price declines after the last acreage report had hoped the agency’s rare re-survey of plantings would deliver a number that better reflects one of the wettest planting seasons on record. Soybean acres were below forecasts, though yields were higher.

“I still don’t think anyone has a good, firm handle on acreage yields, and demand, especially not USDA,” said Charles Williams, who farms 13,000 acres with his father and cousin in Marion, Arkansas. “There’s a lot of calendar left to go on this crop, and I don’t know if the market will know what we have until we throw it in a pile, so to speak, at harvest.”

Data Discrepancy

Some growers also questioned the report due to the discrepancy between the figures published by the USDA’s National Agricultural Statistics Service, or NASS, and those by the Farm Service Agency, or FSA.

“We need to disregard this report, we won’t know actual acreage until this winter, I guess,” said Monte Peterson, a farmer in Valley City, North Dakota. “Makes me wonder, if our system isn’t a little broken. Harvested acreage will be a surprise at some point.”

To be sure, some market veterans agree with the USDA acreage forecast. Scott Irwin, a University of Illinois agricultural economist, said President Trump’s trade aid plan may have encouraged farmers to sow more corn since the agency had initially announced payouts would be tied to acreage planted.

Dan Basse, president of AgResource, said the USDA report showed growers took advantage of the rally earlier this year and planted more than the market expected during a window in the first 10 days of June.

Farmer Stress

Still, lower prices could add to grower stress at a time Farm Aid’s hotline has seen increasingly numbers reaching out on everything from financial counseling to crisis a*sistance. Angie Setzer, vice president of grain at Charlotte, Michigan-based Citizens Elevator, called on farmers in her Twitter account to reach out to her if they needed anything or “even just a place to vent.”

Concerns about a further squeeze to farmers’ financial health sent shares of tractor makers tumbling Monday, with AGCO Corp. down by the most in over a year and Deere & Co. declining by as much as 5.2%.

Lower prices could also push Trump to announce further aid to farmers as he seeks re-election next year. The president has already announced $28 billion worth of financial help for growers facing lower exports due to trade wars.

“The financial stress is there and this isn’t going to help farmers that are struggling,” CoBank’s Ehmke said, referring to corn’s decline. “Is this going to be the nail in the coffin for the farm economy? I doubt it. Because we keep throwing the kitchen sink at the farm economy and it just keeps hanging in there.”

visit this link https://www.bloomberg.com .. lion-corn-loss

Ain't that last paragraph a bi*ch.

Price of corn is dropping and the farmers are growing more than they can sell. Because their welfare checks are tied to how much they lose on their crops. These are people that bi*ch about women on welfare having more babies so they get more on their check.
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 2 weeks ago '09        #2
messy marv stan 5505 heat pts5505
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these bailouts wouldnt be needed if the angry orange man never started these phony jobs stealing economic warfare trade wars smh. who knows how many more hundreds of billion shis schemes will cost the economy
+12   

Top 10 most propped recently  2 weeks ago '19        #3
Droopy 104 heat pts104
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Farmers/ agricultural producer have special tax benefits foh. You should s er the wealthy Florida folks in marion county etc with their acres of land

Some of them from Georgia think they slick got acres in multiple states

And special agriculture license ates from the dmv
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 2 weeks ago '12        #4
OldBusiness 183 heat pts183
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 Droopy said
Farmers/ agricultural producer have special tax benefits foh. You should s er the wealthy Florida folks in marion county etc with their acres of land

Some of them from Georgia think they slick got acres in multiple states

And special agriculture license ates from the dmv
Cool story but these issues are k*lling the farming industry in the midwest.

He k*lled 33% of the market there with the soy bean fu*k up, and now hes putting a dent in the corn market.

Corns mainly grown in Iowa, Illinois, The dakotas, nebraska, missouri, kentucky, Ohio, indiana. And Kansas.



Whether yall wanna admit it or.not hes murdering his base. Its not just the farmers fam, those farmers employ thousands of people in those states. Were watching a cornerstone of American industry be k*lled in ONE term and yall wont admit.it cause youre more loyal to him than you are America.

Put America first for once. While I would never agree on politics with those farmers Im smart enough to know the future of this country needs them to succeed.

They simply deserve better leadership.
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Top 10 most propped recently  2 weeks ago '19        #5
Droopy 104 heat pts104
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 OldBusiness said
Cool story but these issues are k*lling the farming industry in the midwest.

He k*lled 33% of the market there with the soy bean fu*k up, and now hes putting a dent in the corn market.

Corns mainly grown in Iowa, Illinois, The dakotas, nebraska, missouri, kentucky, Ohio, indiana. And Kansas.



Whether yall wanna admit it or.not hes murdering his base. Its not just the farmers fam, those farmers employ thousands of people in those states. Were watching a cornerstone of American industry be k*lled in ONE term and yall wont admit.it cause youre more loyal to him than you are America.

Put America first for once. While I would never agree on politics with those farmers Im smart enough to know the future of this country needs them to succeed.

They simply deserve better leadership.
Thats just talk. Like for example, when ppl say were in debt , but show no signs of being poor hand out money and weapons
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 2 weeks ago '12        #6
OldBusiness 183 heat pts183
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 messy marv stan said
these bailouts wouldnt be needed if the angry orange man never started these phony jobs stealing economic warfare trade wars smh. who knows how many more hundreds of billion shis schemes will cost the economy
Hes eliminating an American industry.


They dont realize the effects this will have

Thousands of people unemployed in the states where these crops are drying up

Truck driving routes/jobs disappearing

Shipping/receiving/export/import locations cutting the workforce since they dont need as many employees even.


The ripple effect man
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 2 weeks ago '12        #7
OldBusiness 183 heat pts183
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 Droopy said
Thats just talk. Like for example, when ppl say were in debt , but show no signs of being poor hand out money and weapons
Just remember America is a mere blip in the lifetime of this planet. Thousands of Empires have come and gone.


Rome k*lled Rome.
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Top 10 most propped recently  2 weeks ago '19        #8
Droopy 104 heat pts104
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 OldBusiness said
Just remember America is a mere blip in the lifetime of this planet. Thousands of Empires have come and gone.


Rome k*lled Rome.
America aint going nowhere. All the enemies we have and none has attacked. Were f*ghting men in tubans and sandals in the hot desert while were in full gear
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 2 weeks ago '16        #9
kuul 21 heat pts21
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Does trump no something about how farmers get paid that we don't? I read that book salts fats and sugars and it seemed to suggest that we overproduce some things like dairy and they just find a way to force into our diets. The farmers still get paid. Idk just a thought.
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 2 weeks ago '07        #10
240ka 62 heat pts62
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 Droopy said
America aint going nowhere. All the enemies we have and none has attacked. Were f*ghting men in tubans and sandals in the hot desert while were in full gear
It seems you do not realize how just how young this "country" is. Please believe America will fall and sooner than you think.
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 2 weeks ago '04        #11
erickonasis 26 heat pts26
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+7   

 2 weeks ago '04        #12
erickonasis 26 heat pts26
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+6   

 2 weeks ago '04        #13
erickonasis 26 heat pts26
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+10   

 2 weeks ago '17        #14
ddy807 20 heat pts20
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 Droopy said
America aint going nowhere. All the enemies we have and none has attacked. Were f*ghting men in tubans and sandals in the hot desert while were in full gear
he said "Rome k*lled Rome" and you reply with that? tf?
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 2 weeks ago '09        #15
messy marv stan 5505 heat pts5505
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 OldBusiness said
Hes eliminating an American industry.


They dont realize the effects this will have

Thousands of people unemployed in the states where these crops are drying up

Truck driving routes/jobs disappearing

Shipping/receiving/export/import locations cutting the workforce since they dont need as many employees even.


The ripple effect man

didnt farmers get a $16 billion bailout a couple months ago. this latest bailout wont fix sh*t and is just public relations propaganda. a real bailout would mean compensating farmers a minimum 200% of what they lost. without the agriculture and farming industries the america wouldnt survive
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 2 weeks ago '12        #16
OldBusiness 183 heat pts183
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 messy marv stan said
didnt farmers get a $16 billion bailout a couple months ago. this latest bailout wont fix sh*t and is just public relations propaganda. a real bailout would mean compensating farmers a minimum 200% of what they lost. without the agriculture and farming industries the america wouldnt survive
Problem is the tariffa havent even generated enough money to cover that initial 16 billion.

Nor has it even made 5 billion to cover his supposed wall

In otherwords all he did was put us in the loop of throwing money at an industry he k*lled.


Take some cash out your wallet and set it on fire.


Thats what our farm industry is doing lol
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 2 weeks ago '12        #17
OldBusiness 183 heat pts183
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 Droopy said
America aint going nowhere. All the enemies we have and none has attacked. Were f*ghting men in tubans and sandals in the hot desert while were in full gear
Our enemies have never been half successful at harming America, as we have.


The top empires always died from within
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 2 weeks ago '17        #18
Ifeellikekobe 114 heat pts114
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+6   

 2 weeks ago '10        #19
Bandito 276 heat pts276 OP
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 kuul said
Does trump no something about how farmers get paid that we don't? I read that book salts fats and sugars and it seemed to suggest that we overproduce some things like dairy and they just find a way to force into our diets. The farmers still get paid. Idk just a thought.
The US agricultural industry has been propped up by the US government since World War 2. During the Cold War, it was good propaganda to show the contrast between the people in Soviet countries lining up to get their food rations from the local farm coop and the breadth of options American had available at the local grocery store.

Farmers have been given subsidies for a lot of different things over the years. The USDA has several programs that benefit farmers.

There is a reason WIC and Foods Stamps are administered through the US Department of Agriculture. Those dairy farmers are getting paid pretty good for providing "government cheese."

Food Stamps are welfare in more ways than one. In some communities, there wouldn't even be grocery stores if they weren't getting paid by EBT. Every dollar spent on the SNAP program produces twice-fold as it circulates through the economy. Not to mention the fees credit card companies that operate the EBT system get. States moving away from actual paper stamps to electronic pay systems was a windfall for them.

In some ways it is like a giant money laundering system. Americans enjoy some of the lowest prices of goods in the world. But, they are paying for it through the back door in taxes. Of course a billion here and a billion there gets "lost" each year.

People say America will never became a Socialist or Communist country. We are already there. It is just being done in a way that isn't visible to the nekkid eye. Also, in some of the least efficient ways possible.

For all the subsidies the oil companies get to keep gas prices low, there are CEOs taking 99% of that money while the company's workforce is getting pennies.

Socialism for corporations = good
Socialism for everyone else = bad

Going back to farmers. When we talk about "farmers." We aint talking about Billy Bob and his family working on their 1000 acres of land. The family farms of yesteryear are disappearing. We are talking about Del Monte, Foster Farms, that company with the green giant on the can. These are huge corporations. They are also the ones receiving most of the recent money in the bailouts to help "farmers" make it through trump's trade war.

One embarrassing moment happened a few months ago. Smithfield Foods was set to get some of that bailout money.

Then this happened.

The U.S. Department of Agriculture terminated a $240,000 purchase contract with Chinese-owned Smithfield Foods that had been awarded under the Trump administration’s agricultural trade bailout program, a move taken at the company’s request, a department spokesman told Reuters on Friday.


Again. Smithfield was all set to get that money. The trump administration had already approved the payment. They bailed out (no pun) when it started to get publicized that a Chinese company was getting money.

Elect a clown. Expect a circus.
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 2 weeks ago '10        #20
Bandito 276 heat pts276 OP
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 OldBusiness said
In otherwords all he did was put us in the loop of throwing money at an industry he k*lled.
That also sabotages future administrations.

What is going to happen when these new markets to replace China never materializes.

Who is going to be the president that says the bailout to the agricultural industry should end?

It is going to take years to fix the problems trump has created. Might as well consider these subsidies permanent. Just like the ones initiated during Reagan's presidency that are still around.

You also have to consider how other countries are looking at things. They thinking that trump could possibly be in office all the way to January 2025. What if those crazy Americans elect another person like him after that? Let's say we don't and elect some reasonable person. That person is in for 4-8 years. Then, America elects another trump.

Foreign policy and relationships used to be off limits to political partisanship. America had to show a united front to the rest of world. That is why you didn't see much change in things. No matter if the president was a Republican or Democrat.

Tariffs? That was antithetical to both free market conservatives and liberals.


Last edited by Bandito; 08-13-2019 at 11:56 PM..
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 2 weeks ago '07        #21
stogz 20 heat pts20
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... and every last one of those bozo, imbecile, redneck, hillbilly farmers are in favor of SOCIALISM!
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 2 weeks ago '17        #22
TheLastNonEarth 127 heat pts127
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 OldBusiness said
Just remember America is a mere blip in the lifetime of this planet. Thousands of Empires have come and gone.


Rome k*lled Rome.


You try to tell him. Do you know how invincible Egyptians must've felt in year 2600 of their 2700 year dynasty. We've been top dog for about 75 years and they're puffing their bird chest out talking about American exceptionalism here.
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 2 weeks ago '12        #23
OldBusiness 183 heat pts183
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 TheLastNonEarth said


You try to tell him. Do you know how invincible Egyptians must've felt in year 2600 of their 2700 year dynasty. We've been top dog for about 75 years and they're puffing their bird chest out talking about American exceptionalism here.
Exactly lol...these n*ggas think America is invincible when places like Egypt, China, and Even Great Britain have been here far longer than America. Theyve all out lasted and out lived super powers that came along and thought they were hot sh*t before.

Think about all the civilizations that have came and went while China just chilled and watched them die.

American arrogance will be the death of us. The expression is Nero played the fiddle while Rome burned....and Trumps dumbass is warming up the band.
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 2 weeks ago '10        #24
Bandito 276 heat pts276 OP
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 OldBusiness said
Think about all the civilizations that have came and went while China just chilled and watched them die.

American arrogance will be the death of us. The expression is Nero played the fiddle while Rome burned....and Trumps dumbass is warming up the band.
Watch the Parts Unknown episode on China. Anthony Bourdain is talking to a Chinese economist. He says that Westerners were all worried about China spreading Communism to their countries.

What they should have really been worried about is when China embraced capitalism. That is when they would kick your a*s to the curb.


Chinese culture is all about production. Communism, Capitalism, whatever. They don't care. They building some sh*t. Just because.


They don't even give a fu*k about k*lling resistors. They done did that.

Even people that are down with the movement can get got.

Imagine trump giving a speech and he calls up Mitch McConnell. Tells Mitch that he is cool. But, he needs to go. Sends him to the camps and is never seen again. That sh*t happens regularly in China.

Just look at the recent protests in Hong Kong. trump is already talking the Chinese Communist Party line and calling them rioters.

A thousand HK protesters could be shot down by mainland China and trump would say the same saying the sh*t he said after the Tiananmen Square massacre.

Let's go back in time.


[Quote]President Donald Trump in 1990 said China had showed the "power of strength" when its troops massacred hundreds, possibly thousands, of pro-democracy demonstrators in Tiananmen Square the year before.

The Tiananmen Square massacre was 30 years ago today, on June 4, 1989.
Trump in a March 1990 Playboy interview said, "When the students poured into Tiananmen Square, the Chinese government almost blew it. Then they were vicious, they were horrible, but they put it down with strength."

Trump went on to say, "That shows you the power of strength. Our country is right now perceived as weak...as being spit on by the rest of the world."

As president, Trump has frequently expressed admiration for authoritarian leaders like Chinese President Xi Jinping, Russian President Vladimir Putin, Egyptian President Abdel Fattah al-Sissi, and Turkish President Recep Tayyip Erdogan, among others.

At the time, Trump was being interviewed by Playboy magazine on his life in the fast lane as a real estate mogul and was asked about a trip he'd taken to Moscow a few years before.

Trump said he'd been "very unimpressed" with the Soviet Union.

"Their system is a disaster," Trump said. "What you will see there soon is a revolution; the signs are all there with the demonstrations and picketing. Russia is out of control and the leadership knows it. That's my problem with [former Soviet President Mikhail] Gorbachev. Not a firm enough hand."

The future US president was then asked if he meant "firm hand as in China."

"When the students poured into Tiananmen Square, the Chinese government almost blew it. Then they were vicious, they were horrible, but they put it down with strength," Trump replied. "That shows you the power of strength. Our country is right now perceived as weak...as being spit on by the rest of the world."

Trump has frequently expressed admiration for authoritarian, strongmen leaders - including Xi Jinping, China's current president. His approval of China showing the "power of strength" in Tiananmen three decades ago is consistent with much of his behavior as president.


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 2 weeks ago '06        #25
V For Vendetta 5 heat pts
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Trump has run several of his businesses into total bankruptcy, and he said he was going to run America like a business.

Anyone surprised by the results?

America is going the way of Trump Airlines, Trump Casino, Trump Steaks, and Trump University.
+5   



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