Impact of COVID-19 on Agriculture

Forbes: Farm Bureau Economist Believes Farmers Can Adapt

News / In The News February 4, 2019

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Forbes mentioned American Farm Bureau Federation’s economic analysis and an interview with the organization’s chief economist in an article on decreased soybean exports to China. “Soybean exports to China are down 94 % (about 50 million bushels vs. 1 billion plus) for this marketing season,” noted Forbes.

Dr. John Newton, AFBF’s chief economist, explained the effects of the current trade situation on farmers. "He believes that a good number of farmers sold forward contracts on their 2018 production early last year, which locked in solid pricing,” noted Forbes. “This means many farmers will have survived the downturn in prices last year.”

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Credit: United Soybean Board // CC BY 2.0 

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