And US soybean exports to the EU more than doubled during the same period as China shifted its supplier to South America and Europe switched its buyer to the US.
'This One Here Is Gonna Kick My Butt'--Farm Belt Bankruptcies Are Soaring
Source: WSJ
A wave of bankruptcies is sweeping the U.S. Farm Belt as trade disputes add pain to the low commodity prices that have been grinding down American farmers for years... Bankruptcies in three regions covering major farm states last year rose to the highest level in at least 10 years. The Seventh Circuit Court of Appeals, which includes Illinois, Indiana and Wisconsin, had double the bankruptcies in 2018 compared with 2008. In the Eighth Circuit, which includes states from North Dakota to Arkansas, bankruptcies swelled 96%. The 10th Circuit, which covers Kansas and other states, last year had 59% more bankruptcies than a decade earlier.
States in those circuits accounted for nearly half of all sales of U.S. farm products in 2017, according to U.S. Department of Agriculture data. The rise in farm bankruptcies represents a reckoning for rural America, which has suffered a multiyear slump in prices for corn, soybeans and other farm commodities touched off by a world-wide glut, made worse by growing competition from agriculture powerhouses such as Russia and Brazil.
Trade disputes under the Trump administration with major buyers of U.S. farm goods, such as China and Mexico, have further roiled agricultural markets and pressured farmers’ incomes. Prices for soybeans and hogs plummeted after those countries retaliated against U.S. steel and aluminum tariffs by imposing duties on U.S. products like oilseeds and pork, slashing shipments to big buyers. Low milk prices are driving dairy farmers out of business in a market that’s also struggling with retaliatory tariffs on U.S. cheese from Mexico and China. Tariffs on U.S. pork have helped contribute to a record buildup in U.S. meat supplies, leading to lower prices for beef and chicken.
(snip)
For Nebraska farmer Kirk Duensing, filing for bankruptcy was a last resort, his only choice after several years of low corn and soybean prices meant too many bills he couldn’t pay. Mr. Duensing has managed to keep farming, hiring himself out to plant crops for other farmers for extra income and borrowing from an investment group at an interest rate twice as high as offered by traditional lenders. Despite selling some land and equipment, Mr. Duensing remains more than $1 million in debt.
https://www.wsj.com/articles/this-on...ng-11549468759
"There is no question former President Trump bears moral responsibility. His supporters stormed the Capitol because of the unhinged falsehoods he shouted into the world’s largest megaphone," McConnell wrote. "His behavior during and after the chaos was also unconscionable, from attacking Vice President Mike Pence during the riot to praising the criminals after it ended."
And US soybean exports to the EU more than doubled during the same period as China shifted its supplier to South America and Europe switched its buyer to the US.
can you document that the increased bankrupties are being filed by farmers?........less than 2% of people actually operate farms even in agricultural states.......
how about providing some actual statistics....double the bankruptcies in 2018 compared with 2008
here's something that calls your numbers into question.....bankruptcy filings in the Southern District of Iowa in 2018....2776......bankruptcy filings in the Southern District of Iowa in 2008....5097......
https://www.iasb.uscourts.gov/bankru...-filings-month
wait, what?.....I thought there were supposed to be twice as many in 2018....
well this might explain it.....
the court of appeals doesn't handle bankruptcies you simple minded fuck.......each District has its own bankruptcy court for that purpose.......The Seventh Circuit Court of Appeals, which includes Illinois, Indiana and Wisconsin, had [COLOR="#FF0000"]double the bankruptcies in 2018 compared with 2008
Oh my god give it a rest.
Are you going to blame Trump for your brainless head. You need to made a trip to see the great Oz.
Farms have been declining a lot longer than Trump was president. The worst times were in the 50’s and 60’s.
Did you know between 2008 to 2015 there was 6.6 million acres of farmland that was lost. I’m not going to blame Obama because I’m not a stupid fool like you.
Rune (02-09-2019)
I am trying to do my part to compensate for Dump, but I can only eat so much lentil soup.
"There is no question former President Trump bears moral responsibility. His supporters stormed the Capitol because of the unhinged falsehoods he shouted into the world’s largest megaphone," McConnell wrote. "His behavior during and after the chaos was also unconscionable, from attacking Vice President Mike Pence during the riot to praising the criminals after it ended."
Agri-Report ( everything you wanted to know about soybeans and then some)has suffered a multiyear slump in prices for corn, soybeans and other farm commodities touched off by a world-wide glut, made worse by growing competition from agriculture powerhouses such as Russia and Brazil.
https://www.agweb.com/article/is-chi...f-us-soybeans/
Bill (02-06-2019)
well, there is one other thing you might want to know....
historical soybean prices.....
https://www.macrotrends.net/2531/soy...cal-chart-data
"There is no question former President Trump bears moral responsibility. His supporters stormed the Capitol because of the unhinged falsehoods he shouted into the world’s largest megaphone," McConnell wrote. "His behavior during and after the chaos was also unconscionable, from attacking Vice President Mike Pence during the riot to praising the criminals after it ended."
????....the all time high price of soybeans was in the month of August, 2012 when they were $17.37........in December, 2016 which was Obama's last day in office they were $10.36......which is down seven bucks......so "my" guy is a fuckup......the January 2019 price is $9.16......that's down a dollar twenty.......who's the bigger fuck up?......
proof of what I say (something katgutz never provides.....
https://www.macrotrends.net/2531/soy...cal-chart-data
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