China Resumes Soybean Purchases:
Following a series of trade concessions by both the US and Chinese governments, China has resumed purchases of US soybeans. Trade disputes between the US and China have driven the prices of soybeans and other crops down, but soybean futures rose to $9.12 on the Chicago Board of Trade in early October. This is the highest they’ve been since the summer. Industry experts are not optimistic that soybean exports will reach levels prior to these disputes, but that these purchases are likely a negotiation tactic by China ahead of trade talks.
Nationwide Farm Bankruptcy on the Rise:
A recent Farm Bureau Report showed an Increase In Farm Bankruptcies Nationwide. The report notes that bankruptcies are not at the level of the 1980 farm crisis, and that many farmers are finding relief in farm bill programs, trade assistance, crop insurance and disaster aid programs.
By the Numbers – Crop Prices Fall in September
The all crop index for prices received by farmers fell 1.6% in September compared to a year ago, according to the USDA. Prices fell for all categories, except for feed grains and hay and vegetables and melons.
Looking Ahead – U.S. Farm Report and Minnesota Crop News
Through the challenges of the past few growing seasons, it’s good to know you can turn to Minnwest Bank as your trusted lender in all things agri-business. Make an appointment with your ag lender today.
Source: VerticalIQ, Inc.