MTP: soybean prices down 15% due to tariffs

[Takket]

MTP just did a nice piece on the cost of China’s retaliatory tariff on soybeans.

Soybean prices are already down 15%. Meaning if you built in a 10% profit margin on your costs, you are already losing that profit plus more.

Of the top soybean producing states drumpf won them all except Illinois and Minnesota. 95% of the top soybean producing counties in the country were won by drumpf. His own supporters are bearing the cost of this. I hope China continues to target drumpf country with their tariffs.

Edit: and their last point was this is just the beginning. Other tariffs have not filtered down to this level yet so there is much more pain to come.

[Achilleaze]

1. Beans beans, the musical fruit...

are today tooting this tune:

[Bengus81]

2. Hope it drops another 10%. I don't give a shit about those farmers anymore........

They wanted Trump in western Kansas by 90%+ so live with the fuck and the DAMAGE he's caused you--and that asshat is just getting started. Wait until that small city in SE Missouri loses 600-700 high paying jobs in that nail factory because of Trump and his pissing matches.

Don't give a rats ass about any Trump voter anymore. You got what you got when you pulled that lever...........

[GeoWilliam750]

3. They don't grow many soybeans in Western Kansas

So they probably do not much care

[Bengus81]

8. Not the only crop with tariffs by shithead..........

http://www.kansascity.com/opinion/editorials/article209503649.html

Yeah...more soybeans grown in the central to east part with wheat and sorghum/corn/wheat out west. Hell.....doesn't matter to me if their growing weeds,they get BURNED by Trump I no longer care.........

[Wellstone ruled]

12. But,they grow Wheat and the Wheat

futures market is in total free fall,down close to the limit in limited trading. Which is slang for a controlled bottom falling out of the market .

[dembotoz]

4. Tired of winning?

[nolabels]

5. Soybeans suck, big Agra-business sucks, republicans voting for trump suck, oligarchs on both sides..

suck and futures traders suck, so it's really a win-win (but only a few have figured it out)

[gulliver]

6. I understand wanting Trumpies to take the consequences of electing Trump

Yes, they asked for it and got us all into a trade war that will cost everyone, Trumpie and non-Trumpie alike. However, there isn't really anything positive in China trying to hand their soybean business (possibly permanently) to other country's farmers.

[ProudLib72]

9. I partially agree with you

On the other hand, it should be a wake up call. Big agriculture is dying. These farmers who consistently plant 1,000 acres of the same crop are going to feel it. Smaller farms with crop diversity will not be as hard hit. Personally, I would rather support small, local farms than the heavily subsidized big agriculture business.

The irony is that big farms relied on global trade, the antithesis of tRump's nationalism. Maybe they didn't understand how far he would take it or how stupid he was with regard to our nation's farmers. But talk about voting against your self interests!

[workinclasszero]

16. They thought they could control Shitler once he got the office

Like the German 1%ers thought they could control Hitler as Chancellor.

They were both wrong.

[ProudLib72]

17. I don't think these idiots believed they could control the Rump

Nah, they just didn't think far enough ahead to see that rampant nationalism would be the death knell of big agriculture. They are morans of the highest caliber. I think they were blind to the parts of Rump's platform that were contrary to their own best interest.

See, they sold to China for what must have seemed like a fair price. They didn't suspect that Rump would interfere with that. And if they did think about tariffs at all, they thought about them in terms of China underselling the American business person with imports to the US; hence, tariffs were good. It's like the bully who never imagines he will be bullied back. When he does get bullied back, he goes whining to anyone who will listen.

[nolabels]

11. Yea, but at least the illusion of cheap crap made by indentured labor from overseas is taking a hit

We have the trumps to thank for modeling what an overseas importer looks like

[hatrack]

7. Whomp whomp!

[roamer65]

10. Hopefully they crash.

50 pct would be sweet.

Effectively, the Chinese have slapped us with a soybean embargo.

What will happen is that American farmers will have to sell them dirt cheap to the Canadians, who will then sell them to the the Chinese at full market value.

[workinclasszero]

13. "95% of the top soybean producing counties in the country were won by drumpf."

Womp Womp GOP farmers, karma's a bitch.

[mitch96]

14. I love soybeans...

Edamame, soy hummus, in soup... with rice or quinoa.. good stuff and a complete protein.
So why does the soybeans in my local store come from CHINA!!! makes no sense to me.
Sell them here. Or ship to the evil state up north (canada) repackage and sell to china??

And why can't the farmers just grow something else?? Being a one trick pony is never a good idea.. Yea it will cost to change but at least you have the ability to change gears and move on.
m

[Wellstone ruled]

15. Hunch is,

the Trump administration is hopping these Growers do not wake up until March or April of 19'. This is when most growers need to sell in order to cover their forward Futures or make Covered Call Sales.

Scott Walker just announced the building of a new Soy Bean Crushing plant in the Oshkosh area that he was bragging about would pick up all the Soy bean market slack. What a dumb ass.

[Gothmog]

18. This will be fun to watch

Link to tweet

[Xolodno]

19. Need to check the Tofu and Loma Linda/Worthington vegetarian meat substitutes...

...prices. If cheap, need to stock up on the canned goods and splurge on the perishables.

Oh and buy soy flour, protein isolate, etc. as well.

[peggysue2]

20. I'm not going to gloat over farmers being crushed at the market

Their livelihood is hard enough to maintain. They believed a dumbass and I hope they've learned from the experience. And then, they could join us inside the Blue Wave (the water is comfortable) or just stay home in November.

Let the rest of us get the country back on track. For everyone this time.