Trump said soybean prices have gone up. They're near decade-lows.

[left-of-center2012]

Source: Yahoo News

President Donald Trump claims US soybeans have largely held up against his trade war with China. But tariffs have pushed prices to lows not seen since 2008.

In reality, soybean prices have fallen more than 12% since China placed a 25% import tax on the legume to retaliate against the Trump administration. That country is the largest soybean customer in the world, accounting for more than half of global imports in 2017.

Also on Wednesday, Trump said China has started buying US soybeans again. But officials in Beijing have been strategizing to minimize reliance on US soybeans since the start of the trade war. China has swapped much of its demand to South America and away from the US, which is now seeing record levels of soybean inventories.

"At this juncture of deepening trade tensions, it is unlikely that private traders in China would seek to buy US origin soybeans," JPMorgan analysts said in a recent research note.


Read more: https://finance.yahoo.com/news/trump-said-soybean-prices-gone-171400339.html

---

[SWBTATTReg]

1. Liar. nt

[Achilleaze]

7. republican lies are dangerous for America

republican lies are dangerous for America
republican lies are dangerous for America
republican lies are dangerous for America
republican lies are dangerous for America
republican lies are dangerous for America
republican lies are dangerous for America
republican lies are dangerous for America
republican lies are dangerous for America
republican lies are dangerous for America
republican lies are dangerous for America
republican lies are dangerous for America
republican lies are dangerous for America
republican lies are dangerous for America
republican lies are dangerous for America
republican lies are dangerous for America

[dalton99a]

2. Up is down in Trumpworld

[Bernardo de La Paz]

3. Farmers know the truth on soybean prices. . . . nt

[iluvtennis]

12. But I read the Trumpian farmers are okay with the low prices cuz they think the Trump tariffs

will change it soon. No critical thinking. Only watch and believe what they see/hear on Fox.

[paleotn]

18. They are too stupid to realize....

that in months mangofuhrer has destroyed markets that took decades to build. Rebuilding those relationships may take years, as the US has been found to be less than reliable.

[ewagner]

19. Took a leaf peeping drive in Wisconsin yesterday

trust me this is on point..

We drove past field after field of unharvested soy beans...

The farmers are leaving them in the fields...we've already had a killing frost (or two) and the recent rains have rendered the fields too muddy to harvest...

Many farmers who gambled on the markets staying strong are going to go out of business...bankrupt...

farmer suicides are up...low milk prices are a big problem...I suspect soybean farmers may be the next victims.

[bluestarone]

21. So very true (Here in North Dakota too) same thing BUT

They will blame OBAMA!!!! Just can't fix STUPID!!!!!!!!!

[PearliePoo2]

36. I'm always interested in first hand accounts like this. That's a dismal picture you're painting.

Keep us informed please as to what you're observing, reading and hearing locally.

Thank you!

[ewagner]

38. What I'm hearing...

I know one farmer who is a hard-core Walker and Trumpster...he was an officer in the State Soy Bean Growers Association. He ran for a two county offices and got his ass beaten BOTH TIMES...

He says he's talking to the association and encouraging them to "stick with Trump and the Repub party because this is best for them in the long run". Evidently there has been some grumbling in the ranks.

Did I mention he's an idiot?

[PearliePoo2]

39. "there has been some grumbling in the ranks." Oh, I can imagine. It will likely increase too.

They are going down on the "Good Ship Trump".

Crops are rotting in the fields and huge bills are coming due. Not a pretty picture.

I wonder how many farmers are quietly updating and increasing their life insurance policies? Seriously.
There may be an alarming increase of "fatal, work related accidents" in the coming year.

Sad to be such idiots. 'Cuz, that other President, he had dark skin, ya know.

Hey morons? Was it worth it? Losing farms that have been in the family for generations?

[NickB79]

40. My RW aunts and uncles who farm have become oddly quiet on Facebook

I posted the OP's article, and got nothing, not even a grumble. Though they did perk up during the Kavanagh debate, calling Ms Ford a liar and screaming about how we have to overturn Roe to "save the babies from murder".

Yeah, pretty sure they'll keep voting Trump even if they end up living out of their trucks after the bank takes their land.

[Bengus81]

22. Yep....those tariffs will help farmers and the next day coal mines in WV open again...

No one every accused those who support Trump of really thinking or doing research......

[mindem]

4. drumph and his party of assholes

can't function without lying, it's like breathing to them.

[duforsure]

5. His followers are quickly learning

trumps nothing but a snake oil salesman who'll tell them anything for their vote, and is nothing but a serial liar that's so corrupt he can't be honest with anyone. At some point , he'll pull all aid going to them as it gets even worse. The international economy has been damaged terribly from trump and his tariffs, so when the markets start crashing from transferring trillions from the poor and middle class to give to the wealthiest people in this country , damage from their taking away health care to millions, the economy will not be self supporting from again doing like W did only worse, and his trickle down reverse robin hood policies for the wealthy will again show everyone its a huge failure , then we'll need to get it all reversed , again.

[denvine]

13. I would like to think that his followers are learning,

but I am not seeing it yet! It is the cult of Trump. He gives their hate and fear credibility.

[SergeStorms]

15. Some of the farmers are learning.

Some of them, but certainly not all. As for the rest of the deplorables? They'll continue to believe every word that comes out of Trump's sphincter-shaped mouth.

[Initech]

6. Well facts don't matter to the MAGAholes, we all know that!

[Ruby the Liberal]

8. Someone needs to let Chuck Grassley know

He took $400k in farmer welfare

https://www.desmoinesregister.com/story/money/agriculture/2017/12/08/grassley-netted-nearly-370-000-farm-subsidies-environmental-group-says/932067001/

Surely he'll want to repay that now.

[watoos]

23. It's Trump's economy,

he just printed out more money to give to the farmers to keep them happy. Trump's economy is booming because he has ballooned our deficit to a trillion dollars a year. More money for the military and the rich and he is already shifting money from agencies like FEMA and the Coast Guard to go to building his useless wall.

If I were a Democrat running for office this year I would run on Trump's running up the debt which will result in cuts to Social Security, Medicare and Medicaid.

Has anyone noticed that the corporate media has been crickets regarding the debt?

[PearliePoo2]

9. Such bullshit! Can he open his mouth without lying? Ever?

Here's what's going on in Minnesota:

https://www.nwitimes.com/business/trade-war-draws-a-line-between-minnesota-soybean-farmers-and/article_f2ba438b-ae05-59bc-8d90-f3f62a49330a.html

Trade war draws a line between Minnesota soybean farmers, and a wide price gap appears.

They're taking their chances that Trump's going to get this thing resolved in the next six months," Longtin said.
"They're storing their beans."

They are NOT selling them, they are NOT shipping them, they are STORING them.

[Samspadesnark]

16. Who will make money from soybean storage?

Archer Daniels Midland? Bunge? Cargill? And how long before the soy beans get stale? Who would buy them then? And what happens when the farmers run out of storage money??

[jmowreader]

41. Some soy farmers have their own silos

Anyone who doesn't have a silo has to send them to a grain elevator, or store them on pallets in 50-lb bags.

BTW shelf life of dried soybeans is 10 years.

[safeinOhio]

10. Trump, please help the farmers and eat more tofu....

You could really use the phytoestrogens

[greymattermom]

14. That will help with his moobs

Next thing you know, Melania will need another month in the hospital.

[watoos]

24. Thank you for that one,

you made me laugh. More positive energy coming from me into the universe.

[3Hotdogs]

11. I don't know. The soybean futures market says different.

Summer, 2012: Soybeans 17.50 per bushel (bu).


Friday: 8.75 per bu.


If I was a soybean farmer, I would certainly be glad Trump was our president. How 'bout your?

[Wellstone ruled]

27. The price you quote is a futures price.

As of Friday noon,cash price at South Dakota and Minnesota Elevators for new Beans was dollar or more less. Elevator operators are only buying and storing only what they have contracts to Crushing Plants for.

BTW,the weather has been to wet to combine Beans. High Humidity is easily absorbed by the bean pod and what will happen is,if they do not get dry weather soon,the beans will mold in the pods and be worthless.

[3Hotdogs]

29. In other words, its even worse for the farmers?

[Wellstone ruled]

30. Kind of looking that way.

Some are dumping their Beans on local Elevators at what ever they can get. Remember,most of these Guy's have Fuel and Fertilizer bills coming due in three to four weeks. And most likely Cash Rents of Shares due before the end of the year.

[3Hotdogs]

33. Please explain Cash Rents of Shares.

[Wellstone ruled]

37. Cash Rent or Shares is

a method of Land rental. Cash Rent is paying some one for the use of the land to grow a grain. Another one is Cash and a Share of the Crop grown on the land at time of Harvest. We used the later model in the Late fifties and in into the sixties when I still active. The land owner gambles you know what the hell your doing and the Crop yield is a bin buster. Great way to operate if you are cash short,or the Bank interest Rates are pure ugly.

[Danascot]

17. Who you gonna believe

Trump or the lying fake news commodities markets?

[Bengus81]

20. He means when you add the bean price to the WELFARE check they get.......

BOOM....prices are UP!!

[watoos]

25. Exactly,

corporate welfare is ok.

[riversedge]

26. When Trump tells the truth,---that should be NEWS!!

[DBoon]

28. Next he will announce an increase in the chocolate ration

“It appeared that there had even been demonstrations to thank Big Brother for raising the chocolate ration to twenty grams a week. And only yesterday […] it had been announced that the ration was to be reduced to twenty grams a week. Was it possible that they could swallow that, after only twenty-four hours? Yes, they swallowed it. [...] The eyeless creature at the other table swallowed it fanatically. passionately, with a furious desire to track down, denounce, and vaporize anyone who should suggest that last week the ration had been thirty grams. Syme, too-in some more double complex way, involving doublethink-Syme, swallowed it. Was he, then, alone in the possession of a memory?”

- George Orwell, 1984

[JohnnyRingo]

31. He's opening new coal mines and steel mills too.

MAGAS just assume they're somewhere else besides their town.

[EarthFirst]

32. Just throw a catch-phrase on a hat...

That makes it so!

[IronLionZion]

34. "Up is down, pleasure is pain, darkness is light, slavery is freedom, madness is sanity..."

Up is down, pleasure is pain, darkness is light, slavery is freedom, madness is sanity...
— Anton Szandor LaVey

[Haynx]

35. His supporters probably will believe him

They are zombies.

[Scurrilous]

42. K&R