Discussion in 'Too Hot for Swamp Gas' started by 96Gatorcise, Dec 24, 2018.
China imports zero U.S. soybeans in November for first time since trade war started | Reuters
China found another country, Brazil, to happily fill the void left by Trump's stupid tariffs. So much winning. I bet US soybean farmers feel like UT style champions of life right now.
A warning from China, from an article 4 months ago:
“Many countries have the willingness and they totally have the capacity to take over the market share the U.S. is enjoying in China. If other countries become reliable suppliers for China, it will be very difficult for the U.S. to regain the market,” Han Jun told official Xinhua news agency in an interview on Friday.
China is delivering on their promise.
China says U.S. farmers may never regain market share lost in trade war
Wow. Who could have seen this coming? Good thing we have a plan to now put these producers on welfare. The Trump way.
Another wonderful decision from the "stable genius".
Good Lord, I didn't realize it was this bad, exports to China went from 4.7 million TONS a month in 2017 to zero a year later ... revenues from 9,400,000,000 pounds, per month, have completely dried up, perhaps permanently. That is simply unbelievable.
It is about $1.5 Billion in revenue per month, based on the prices from last year.
I think you forgot to multiple by 12 since these were monthly figures. Both the article and my math put the lost revenue at $12 Billion/year.
So much winning!!!
Now if they could legalize weed at the federal level, the farmers in MN, IA, ND, SD et al could change their crops and make some real money.
I've seen people say these farmers just need to start farming something else. Like it doesn't matter what their geography is, what their equipment is specialized for, or what crop they've devoted their knowledge base to. People have no clue.
Farmers around here grow a lot of soybeans and it is in the crop rotation with corn and wheat. You use the same equipment for wheat as you do soybeans. Canola is another crop that can be planted in place of soybeans.
And we are now sending more taxpayer money to these farmers. Winning on so many levels.
Question. Shouldn’t we be drug testing these welfare queens before we give them our hard earned money?
Appreciate the info. That's not going to help the market for those items if that's what everyone switches to and the supply explodes.
Yep, good catch. I edited it. It was per month.
There is the old saying that "there isn't a vaccumm in nature." so the soybeans now going to China were going somewhere so the market for them is still there. If the suppliers of the soybeans to china were growing something else, then the supply of that item just went down. I really doubt there was millions of acres sitting idle waiting for China to call for soybeans before they planted them. Sure it will hurt the domestic market but that will settle back out.
Sweet!!! Lower prices on soy sauce. I pay about $2.50 every 9 months or so for it at home. Maybe i’ll Save $0.20 or so and it’ll get to $2.29.
Nature abhors a vacuum.
Not sure if that is really applicable here since we are not talking about nature but man made constructs such as markets and tariffs.
The soy farmers can grow wheat but I would think that would really cause a glut in the wheat market. Then what, we further subsidize them too?
It will be interesting if China really can move on from all American crops. Not sure they can, but that is a billion plus customers gone forever.
China is the largest importer, so the idea that we just sent 4.7 million tons of soy beans, per month, someplace else probably isn't consistent with reality. Also, your assumption that Brazil and the other countries that stepped in to take our place have left a void for some other produce may not be true either. Brazil has lots of land and is deforesting at a rate of 1000s of square miles a year. They deforested 3000 square miles of land in 2017 alone. It's possible they put new or idle farm land to use without stopping production of other crops.
After trump gets done with his tariffs and destroying the stock market the only thing we'll be able to afford is tofu, soy milk, and soy nuts. We're going to become a nation of #soyboys. trump alone can make that fashionable.
A tofurkey in every pot!
Then why did we just have to pass an emergency farm bill to bail out farmers who were gutted by the tariffs?