Soybean Farmers’ Gamble: Trump’s Trade War and a Looming Reckoning
U.S. soybean farmers face significant challenges due to the ongoing trade war with China, the nation’s largest buyer of the crop, and an overreliance on a small number of global trade partners. The current farm economy is unstable, prompting bailouts that, while providing short-term relief, exacerbate long-term issues and drive up prices due to the cycle. A new report suggests that these issues stem from a focus on large-scale monoculture farming and a lack of support for smaller, more diversified farming operations. To counter these issues, the report advocates for incentivizing non-commodity crop growth, reforming bailout practices, supporting antitrust legislation, and investing in local infrastructure to ensure food security.
John Q. Hosedrinker