Impact of COVID-19 on Agriculture

Farmers Brace for Economic Hit From Coronavirus

News / In The News March 26, 2020

"This will be a wallop," reports POLITICO.

“These type of black swan events, you can’t anticipate it,” said John Newton, chief economist for the American Farm Bureau Federation. “It’s a shock to the global economy. We will rebound and recover — it’s just a matter of how long’s the drag on this.”

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Behind every devastating drop in cattle, corn, ethanol and other crop futures, there are farm and ranch families with suddenly shaky futures.

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From dairy farmers with nowhere to send their milk and cattle ranchers reeling from plummeting beef prices, the impact of the coronavirus is rippling through farm country. Corn, cotton and soybean futures have tumbled, ethanol plants have been idled, and some fruit and vegetable farmers are finding their best option is leaving produce in the field.

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