(BISMARCK, ND) – IN CASE YOU MISSED IT
KVRR: China Trade Dispute Results in No Bids on Soybeans
By Danielle Church
August 30, 2018
- The trade dispute with China is having an impact on North Dakota’s soybean industry.
- Half of all soybeans grown in the U.S. are sent overseas. Of that 60 percent is exported to China. Now it’s all at a standstill.
- “The local grain elevators have not had bids to export soybeans out of the PNW or the Pacific Northwest, which is our primary source for exports from this region,” said Frayne Olson, NDSU extension crops economist. Seventy-five percent of soybeans from North Dakota are shipped out of the Pacific Northwest and delivered to China.
- While farmers are storing their influx of soybeans this harvest season, they’ll also have to look for alternative crops they can sell to make up for the hit to their production. Many have already started to use corn as an alternative, but even that won’t get to the purchaser right away.
- All of these factors are adding to the stress of that is harvesting season.
- If the trade dispute continues for many more months, consumer prices will start to increase.
Read the full article here.
That’s not all: A new analysis from Axios finds that retaliatory tariffs could affect 11 million jobs across the U.S.
Cramer has already missed his self-imposed deadline to stand with North Dakota against the trade war. How much longer will he kowtow to the president, choosing to put his political capital ahead of North Dakota?