As soybean futures plunge, farmer says tariffs have devastated the industry (compared, leader)

[beb0p]

As soybean futures plunge, farmer says tariffs have ‘devastated’ the industry

“The effect of the trade war has been very devastating on soybean farmers here. We’ve taken a 20 percent drop in price,” Gibbs said on “Power Lunch. ”


“What we’re seeing with market action today only exacerbates the fact that we have lost our No. 1 customer because of the trade wars.”

[sholomar]

call the waaaaambulance.

[GotHereQuickAsICould]

Last I heard, Trump was buying them off with $12 billion in farm subsidies.

Lobster fisherman and aluminum manufacturers are also seeking subsidies.

[phma]

Freedom isn't free. Free trade isn't free.

We have a history of bailing out industries including the auto industry and the banking industry.

Its difficult to justify foreign aid if we are unwilling to provide domestic aid when and where needed no matter the cause.

[Threerun]

I love hearing pro-Trump/pro-tariff yuks trying to justify government intervention and manipulation of market capitalism and on the other hand routinely bash democrats for government intervention and manipulation.


The irony is so delicious.

[don1945]

Originally Posted by Threerun

I love hearing pro-Trump/pro-tariff yuks trying to justify government intervention and manipulation of market capitalism and on the other hand routinely bash democrats for government intervention and manipulation.


The irony is so delicious.

The real irony is that a lot of these soybean farmers, and others being hurt now, are the very ones who voted for Trump and who wear those stupid MAGA hats. Good for them.

They wanted change, and that is exactly what they are going to get. Hope they have a lot of that change under their sofa pillows, because they are going to need it when they start starving because he killed their markets for them.

[Kracer]

we are going to make your life better, first we have to cut into your flesh, infuse fluids and then remove the tumor.


patient refuses life saving operation because incision will leave a scar!

[Haakon]

Earlier in the day, the U.S. Department of Agriculture predicted U.S. soybean production for the 2018-19 crop year would hit 4.586 billion bushels, topping market forecasts. The news sent soybean futures plunging on Friday, falling more than 4.5 percent. It was their worst day since the July low.

Supply goes up, prices come down. Anyone who's even heard of Economics 101 knows that, so of course liberals don't understand it and instead quote the one "farmer" who worked for the USDA for 30 years and compares farmers to Stormy Daniels. This one guy has been making the rounds of all the liberal media outlets. https://www.google.com/search?q=Chri...s+Gibbs+farmer

[sware2cod]

Originally Posted by Haakon

Supply goes up, prices come down.

Due to tariffs, the supply is excessive compared to demand because 35% of the US soybean crop used to go to China and isn't being bought by China due to the tariffs. 35% extra supply in the USA with no buyers. Yep, prices go down, due to the oversupply caused by tariffs.

[jeffrow1]

Funny how that works...... the only way "Free Trade" is really free trade is if countries are not allowed to support or subsidize products. Since the odds of that ever happening is nil it becomes a balancing act. A concept our fearless leader does not seem to grasp.