My state of Mississippi is dependent on the sell of our major crop, soybeans, and thanx to Donny’s massive tariffs on China our framers are in pain and searching for alternatives….
Members of the state Senate Agriculture Committee were informed Wednesday that the struggles faced by Mississippi farmers are worsening, affecting not only vegetables but also beef.
Agriculture, the state’s largest industry that directly or indirectly employs over 11 percent of the state workforce, has been gut-punched by high inflation, falling prices, drought, and declining exports. Now, many farmers are watching what Washington D.C., especially the White House, will do next concerning tariffs as well as President Donald Trump’s recent plan to import more beef from Argentina.
“Agriculture faces extreme, extreme risk every day,” said State Senator Neil Whaley (R), committee chairman. “When you look at the market volatility and the prices that are returned, the cost of reduction is through the roof. If we do not find ways and avenues to utilize our crops locally and domestically, we are going to lose these family farms, therefore losing independent food. And that is a big problem for us.”
Soybeans, a powerhouse crop in Mississippi, are witnessing a massive drop in sales, largely due to China’s purchase of soybeans from South America, said Duane Dunlap, president of DNS Commodities. Prior to China switching suppliers, Mississippi’s soybeans were a major part of the state’s export, and the Delta was dependent on those foreign orders.
(magnoliatribune.com)
Then the magic of Donny has come to the rescue of farmers…..and they are told to buy bigger tractors(?)….
China has agreed to purchase at least 25 million metric tons of US soybeans annually, Treasury Secretary Scott Bessent said Thursday. Bessent said China will start by purchasing 12 million metric tons of soybeans from the US between now and January, the AP reports. “So you know, our great soybean farmers, who the Chinese used as political pawns, that’s off the table, and they should prosper in the years to come,” Bessent said in an interview on Fox Business Network’s Mornings with Maria. He said the agreement lasts for three years.
he soybean agreement was part of the deal President Trump reached with Xi Jinping at their South Korea meeting, reports the Wall Street Journal. “I was extremely honored by the fact that President Xi authorized China to begin the purchase of massive amounts of Soybeans, Sorghum, and other Farm products,” Trump said in a Truth Social post. “Our Farmers will be very happy! In fact, as I said once before during my first Administration, Farmers should immediately go out and buy more land and larger tractors.” Last month, for the first time in almost seven years, China bought no soybeans from the US. The country switched to suppliers in Brazil and Argentina, the latter of which annoyed administration officials by removing its export tariffs after receiving a financial lifeline from the US.
This is great news for our farmers…..but I ask what about the deals China has already made elsewhere since Donny and his magic Sharpie?
Will this be a lasting deal? Or will Donny get his panties in a twist and nullify it down the road?
I Read, I Write, You Know
“lego ergo scribo”
China is already committed to buying huge quantities of commodities from other countries to replace what they would have bought from the US. If they buy anything at all from us it is only going to be a token amount to make him think that he’s some kind of “master negotiator” and satisfy his ego. If you look at the actual details, virtually all of these “deals” that he claims he has negotiated with other countries are actually far worse for us than they were before he stuck his nose into things.
Between this, his “idea” of importing something like 80,000 tons of beef from Argentina, the deal with Japan, etc… We’re far worse off than we were before on almost every single thing he’s f**ked around with.
That was my thoughts as well….China had already made deals so what good will this do? chuq
If I were China I’d make a few small, token purchases, just enough to allow Trump to brag about what a “magnificent agreement” he made. Within a week or two at the most he’ll have forgotten all about it.
What he’s basically done is prove to the world that we cannot be trusted, that our word means nothing, that trade agreements with us are meaningless because he’ll eventually throw a hissy fit over yet another imaginary insult and rescind any agreements he’s made for any reasons he can come up with, even if those reasons exist only in his head.
That would be a devious plan….I like it….chuq
The deal that he is boasting about is time-limited to 12 months. During that time I am sure DT will do something else to piss off the foreign buyers, including China, and that deal will collapse.
Best wishes, Pete.
That would be my guess as well chuq