Impact of COVID-19 on Agriculture

Forbes: Soybean Farmers are Experiencing New Price Lows

News / In The News May 29, 2019

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A Forbes article featured Farm Bureau economic analysis on the difficulties U.S. soybean farmers are facing because of recent weather conditions and retaliatory tariffs from China. A number of factors are affecting soybean farmers, including “heavy rains and flooding keeping them from planting on a timely basis (helps per bushel price but could hurt total income) or a swine flu outbreak in China,” explained Forbes.” explained Forbes.

“Megan Nelson from the Farm Bureau estimates that the soybean crop is only 9 percent planted as of mid-May, down 20 percentage points from the five-year average of 29 percent and 23 percentage points lower than last year,” noted Forbes.

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Credit: United Soybean Board // CC BY 2.0 

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