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Thread: Farmers taking one for the team trumpf-Farm Belt Bankruptcies Are Soaring

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    Default Farmers taking one for the team trumpf-Farm Belt Bankruptcies Are Soaring

    '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

    It is really sad that some in our country have more trust & respect for foreign adversarial leaders than our own loyal opposition.

    “But I suppose the most revolutionary act one can engage in is... to tell the truth.”
    ― Howard Zinn

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    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.

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    Quote Originally Posted by Bill View Post
    '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
    can you document that the increased bankrupties are being filed by farmers?........less than 2% of people actually operate farms even in agricultural states.......

    double the bankruptcies in 2018 compared with 2008
    how about providing some actual statistics....

    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 Seventh Circuit Court of Appeals, which includes Illinois, Indiana and Wisconsin, had [COLOR="#FF0000"]double the bankruptcies in 2018 compared with 2008
    the court of appeals doesn't handle bankruptcies you simple minded fuck.......each District has its own bankruptcy court for that purpose.......

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    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.

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    I am trying to do my part to compensate for Dump, but I can only eat so much lentil soup.

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    Quote Originally Posted by PostmodernProphet View Post
    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....

    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.......
    I know it must be difficult for you but it is from the devils own newspaper, the wsj..........

    WHY DO YOU HATE AMERICAN FARMERS??

    It is really sad that some in our country have more trust & respect for foreign adversarial leaders than our own loyal opposition.

    “But I suppose the most revolutionary act one can engage in is... to tell the truth.”
    ― Howard Zinn

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    Quote Originally Posted by Micawber View Post
    I am trying to do my part to compensate for Dump, but I can only eat so much lentil soup.
    Add in some pork sausage.

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    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.
    Agri-Report ( everything you wanted to know about soybeans and then some)
    https://www.agweb.com/article/is-chi...f-us-soybeans/

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    Quote Originally Posted by Bill View Post
    I know it must be difficult for you but it is from the devils own newspaper, the wsj..........

    WHY DO YOU HATE AMERICAN FARMERS??
    I love the ones who pay me rent.......why do you hate the fact I have proved you wrong again?.....

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    Quote Originally Posted by noise View Post
    Agri-Report ( everything you wanted to know about soybeans and then some)
    https://www.agweb.com/article/is-chi...-of-us-soeans/
    well, there is one other thing you might want to know....
    historical soybean prices.....
    https://www.macrotrends.net/2531/soy...cal-chart-data

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    Quote Originally Posted by PostmodernProphet View Post
    I love the ones who pay me rent.......why do you hate the fact I have proved you wrong again?.....
    You mean the wsj??? Perhaps you should write them a letter...

    You don't love anyone.......... You have shown nothing but hate since I've known you........

    It is really sad that some in our country have more trust & respect for foreign adversarial leaders than our own loyal opposition.

    “But I suppose the most revolutionary act one can engage in is... to tell the truth.”
    ― Howard Zinn

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    Quote Originally Posted by Irish Exit View Post
    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.
    Did the switch make up the difference?

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    Quote Originally Posted by Bill View Post
    You mean the wsj??? Perhaps you should write them a letter...

    You don't love anyone.......... You have shown nothing but hate since I've known you........
    then its obviously a shame you showed up........and I'm not debating the WSJ, though its obvious the reporter in question is as ignorant as you........at present however, the question is, having been proved wrong conclusively, why are you still struggling?.....

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    Quote Originally Posted by PostmodernProphet View Post
    then its obviously a shame you showed up........and I'm not debating the WSJ, though its obvious the reporter in question is as ignorant as you........at present however, the question is, having been proved wrong conclusively, why are you still struggling?.....

    the current price of soybeans is down seven bucks so yeah your boy trump is a fuckup

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    Quote Originally Posted by katzgar View Post
    the current price of soybeans is down seven bucks so yeah your boy trump is a fuckup
    ????....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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