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The situation echoes the 2018-2020 trade war, during which U.S. agriculture lost $26 billion, with nearly $20 billion in soybean losses alone.
Weird, we tried this a few years back it seems with terrible consequences. Why are we doing this again? Seriously who is starting all of these trade wars?
Oh.
Oh I see.
That just means more soybeans for the US, and because supply and demand is still an economic principal, the price will go way down.
/s hahahaa they’re gonna burn them instead of selling them cheaper.
I wonder if soybeans can be turned into ethanol.
I mean they can but just like corn or others takes more energy to turn it into that then you get back
Soybean oil can be transesterified with an alcohol (usually methanol) in the presence of a catalyst to make fatty acid methyl esters (FAME) or “biodiesel.”
Interesting.
Have the day you voted for.
Good luck serving your corporate overlords when they buy your farm for pennies on the dollar and hire you for minimum wage.
Global supplies are good so china can buy elsewhere, but that means someone normally buying from Brazil (the most likely other country to buy from, everyone else is a footnote in soybeans) has to buy from the us as Brazil doesn’t grow enough for everything. it doesn’t matter what us foreign policy is though, nobody was going to buy all of last years soybeans and this years harvest will just add more.
china typically isn’t buying much from the us now anyway even in a normal year, they buy in seasonal patterns and generally would be looking for a few more months unless they were desperate which they wouldn’t be with supplies this high.
things are not looking good for farmers, but trump’s stupid trade policies are not the important factor here. They are not helping, but they are not the most important story.
Good. They get to feel the ramifications of their choice.
@cm0002 dumbass
Why dumbass?
The comment comes from a Mastodon instance, and the microblogging convention is to tag a user at the beginning of a post in order to make it a reply. The cross-federation presents the Mastodon post as a Lemmy comment, but preserves the user-tag at the beginning. I’m certain that @zombiewarrior@techhub.social meant to call the farmer quoted in the article a dumbass.
