US Farmers Select Save Soy Harvest
August 29, 2020

US Farmers Select Save Soy Harvest

By kingstonfarmersmarket

US Farmers Select Save Soy Harvest – Soybean farmers in the United States are now making a big decision by hoarding their crops because they are caught in the trade war between the US and China. US farmers store tartas in containers or tanks to keep them dry and safe rather than selling their crops. The hope that US farmers want is that this trade war will quickly pass as the main market for soybeans, will return to buy soybean supplies from As and reduce the burden on prices.

US Farmers Select Save Soy Harvest

In lasir from an online gambling agent site on Tuesday 11/13, the price of soybeans on the Chicago Board of Trande exchange slightly slipped about 0.25 points or 0.03% to US $ 883 cents per bushel after rising 0.88% in the previous trading session to US $ 887 cents per bushel. Iowa soybean farmer Wayne Humphreys says the risks are enormous. When the trade indicates that soybean prices will increase next year, the farmer’s action will change trade negotiations and also increase the record of supply.

US farmers will still put their harvest in the tank because they want to wait some time before selling it back to the market. According to US farmers doing this gives an opportunity to manage the amount for sale. Another obstacle is the storage of the soybean harvest which is carried out in conjunction with the accumulated production. American soybean farmers are currently trying to protect overall income from agriculture which is projected to decline for the fourth time in 5 years.

Lack of supply income from other countries

For some farmers, the options for holding back the sale of their crops are few. Millions of bushels of soybeans currently have no purpose to ship. The terminal in Portland, a major storage location in the Pacific Northwest before it shipped to China, now rarely gets offers. Supply at the site is still plentiful even though winter and rainy seasons have hampered crops in North Dakota. Based on data from the US Department of Agriculture, US soybean reserves are expected to double to 955 million bushels by the end of this harvest season.