Farm bankruptcies spike; 25 million tons of soybeans go unsold due to tariffs

[Gulo Blue]

American farmers are filing for bankruptcy at a rate not seen since the 2008 recession, according to a Wall Street Journal report.

?The Seventh Circuit Court of Appeals, which includes Illinois, Indiana and Wisconsin, had double the bankruptcies in 2018 compared with 2008,? the paper said. The 8th Circuit saw a staggering 96% rise, the 10th Circuit a 59% increase.

https://www.nydailynews.com/news/na...tcies-trade-trump-tariffs-20190216-story.html

Speaking at the agency's annual forum in Arlington, Virginia Thursday, Johansson added that trade tensions between the two nations cost soybean farmers $7.9 billion last year, the Financial Times reported.

https://www.businessinsider.com/tru...ion-tonnes-of-us-soybeans-to-go-unsold-2019-2

Talking about more money just in soybeans than they're arguing over with the border wall.

 

[Michchamp]

Well... Hillary Clinton should be in JAIL.

 

[TheVictors]

soybeans are for hippies! no soybeans in my BIG MAC!

 

[Michchamp]

soybeans are for hippies! no soybeans in my BIG MAC!

"soy boy" seems to be the insult the young fascist Trumpers are using against people on the left, along with the usual strings of homophobic slurs "beta cuck libtard faggot"

 

[TheVictors]

"soy boy" seems to be the insult the young fascist Trumpers are using against people on the left, along with the usual strings of homophobic slurs "beta cuck libtard faggot"

I've been called a "Goy Boy" by Jewish sorority girls, but soybeans are for pussies ...and how much Soy Sauce can you go through anyways?!


We've had the same bottle of Kikkoman's in the cupboard for years!! Idiot farmers should rotate crops and grow something less stupid!


MAGA!

 

[Gulo Blue]

soybeans are for hippies! no soybeans in my BIG MAC!

Soybeans are also used to make bacon (and I mean pig feed, not soy-"bacon")

 

[TheVictors]

Soybeans are also used to make bacon (and I mean pig feed, not soy-"bacon")

 

[tigermud]

Trust the process, short term pain more than worth the long term fair and balanced benefit for us all. Long Long overdue, anyone but trump would have just continued the status quo failures.

https://www.cnbc.com/2019/02/22/trump-xi-discussing-late-march-summit-at-mar-a-lago-sources-say.html

 

[Gulo Blue]

Trust the process, short term pain more than worth the long term fair and balanced benefit for us all. Long Long overdue, anyone but trump would have just continued the status quo failures.

https://www.cnbc.com/2019/02/22/trump-xi-discussing-late-march-summit-at-mar-a-lago-sources-say.html

That number is bigger than the amount of exporting and importing with China combined. Must be over a number of years, but how many? $1.2 T is 6.4 years of exports at out current rate.


edit: "Sources also confirmed to CNBC that China has committed to buying up to $1.2 trillion in U.S. goods"
"up to"...so not a commitment

 

[tigermud]

That number is bigger than the amount of exporting and importing with China combined. Must be over a number of years, but how many? $1.2 T is 6.4 years of exports at out current rate.

Trumps got this. They need us more than we need them. Nothing worth it happens overnight.

 

[Gulo Blue]

Trumps got this. They need us more than we need them. Nothing worth it happens overnight.

I hope so, but I have no faith in the guy. I think some flattery and some targeted concession that he can use for headlines that make him look good are all that China needs to concede to get what they want out of him.

 

[TheVictors]

Putin is sitting back and laughing his ass off

 

[sggatecl]

Trust the process, short term pain more than worth the long term fair and balanced benefit for us all. Long Long overdue, anyone but trump would have just continued the status quo failures.

https://www.cnbc.com/2019/02/22/trump-xi-discussing-late-march-summit-at-mar-a-lago-sources-say.html

I'd like to hear if the bankrupted farmers share your opinion.

 

[tigermud]

I'd like to hear if the bankrupted farmers share your opinion.

China plays a long game, that's what allowed them to rake us over coals for years. Time for changing all that and it's not like he's leaving them all in the ditch like the repodems did with all the crap trade agreements over the years.

https://www.nbcnews.com/business/economy/usda-has-paid-out-7-7-billion-help-farmers-hit-n974516

https://thehill.com/opinion/energy-...-trump-to-deliver-the-greatest-harvest-yet-to

Trump is the result of repodem past failures to put American interest first.

 

[Gulo Blue]

China plays a long game, that's what allowed them to rake us over coals for years. Time for changing all that and it's not like he's leaving them all in the ditch like the repodems did with all the crap trade agreements over the years.

https://www.nbcnews.com/business/economy/usda-has-paid-out-7-7-billion-help-farmers-hit-n974516

https://thehill.com/opinion/energy-...-trump-to-deliver-the-greatest-harvest-yet-to

Trump is the result of repodem past failures to put American interest first.

Then why are bankruptcies up if he isn't leaving them in the ditch?

 

[tigermud]

Then why are bankruptcies up if he isn't leaving them in the ditch?

I don't recall there being billions in aid packages when the tech sector was being outsourced in droves and unions numbers dwindling away under all the years long crap trade agreements. Our farmers will rebound nicely before all is said and done. All I recall was hearing cheap toys were good for santa and that peeps just need more training and education for jobs they'll outsource in the next wave the whole fckin time, bunch of GD sell outs.

 

[Michchamp]

I don't recall there being billions in aid packages when the tech sector was being outsourced in droves and unions numbers dwindling away under all the years long crap trade agreements. Our farmers will rebound nicely before all is said and done. All I recall was hearing cheap toys were good for santa and that peeps just need more training and education for jobs they'll outsource in the next wave the whole fckin time, bunch of GD sell outs.

you didn't answer the question, Donald, Jr.

 

[tigermud]

you didn't answer the question, Donald, Jr.

I don't believe they are being left in ditches we'll get through it.

Chapter 12 farm bankruptcies in the U.S. were down in 2018 compared to prior-year levels. While total bankruptcies were lower, as a proportion of farms in the U.S., bankruptcies were higher. Then, in some portions of the U.S., farm bankruptcies were at decade-high levels – likely reflecting poor commodity prices and cash receipts associated with dairy and row crop production.

This situation is likely to worsen. Farm debt is record-high, the debt-to-asset ratio has climbed for six consecutive years, and farm debt as a proportion of annual farm income is at 97 percent — a 32-year high. In addition, lending standards are tighter and the cost of credit is rising. There are options before bankruptcy relief, and certainly many farmers have liquidated assets to discharge debt. How much longer can many others endure remains a question.

The capacity to repay debt will be further challenged in 2019 if farm commodity prices do not improve. Continued retaliatory tariffs on U.S. agricultural commodities will only make it harder for farmers to service debt as another, i.e. third, round of trade mitigation payments is not expected.


Finally, while the trends are concerning, bankruptcy does not mean the loss of the family farm. Through a successful Chapter 12 bankruptcy a farmer may have an opportunity to retain assets and continue the farm operation in some capacity.

https://www.thefencepost.com/news/farm-bankruptcies-in-2018-the-truth-is-out-there/

 

[TheVictors]

Hey MC ...so mudhen (see that?) would be “Angry White Guy”

 

[tigermud]

Hey MC ...so mudhen (see that?) would be ?Angry White Guy?

Pot meet kettle