Sales Hotline
News
Your present location:
   
Soybean encounters, the US "agricultural crisis" is about to erupt
Source: | Author:hblingfeng | Published time: 2018-11-22 | 1137 Views | Share:
For the first time in 35 years, the area planted with wheat and corn in the United States will exceed soybeans for the first time.

“Soybean prices fell below the profit and loss line, and American farmers switched to wheat and corn,” according to Reuters on the 3rd. Because China almost stopped importing US soybeans, causing soybean prices to fall to lows in decades, American farmers have to Replanting new crops. Statistics from the US agricultural sector show that for the first time in 35 years, the area planted with wheat and corn in the United States will exceed soybeans for the first time.

The Minnesota's Forum Star reported on the 3rd that in the harvest season of previous years, a large number of trucks departed from the state's full soybeans to the west coast and exported to China. Soybean is the agricultural product that exports more than Z in the state. But this year, similar scenes have not appeared. According to the report, in order to retaliate against the US government's tariff on Chinese products, China imposed a 25% tariff on imported US soybeans, which caused local farmers to “can't afford to sell” soybeans. In the local area, 1 bushel (equivalent to 35.238 liters) of soybeans has a guaranteed price of about $9, but now the market price is only $7.2. "There are too many losses, everyone is not selling, there are farms or barns." Local farmer Peterson said.

A similar situation has occurred in North Dakota, USA. Local farmer Thomas said that the local soybean market price is 7.1 US dollars a bushel, and the cost price is 8.5 US dollars. Reuters said that some American farmers who have expanded their soybean acreage in recent years have "turned" for the first time and switched to wheat and corn. "The Forum Star" said that the prospect of replanting corn is not clear. The cost of growing corn is higher than that of soybean. In recent years, corn prices have also been sluggish. If the trade friction between the United States and China continues, the United States will have an "agricultural crisis" next year.