Wall Street Journal: Soybeans Tumble Near 10-Year Low
“Researchers at the University of Illinois and Ohio State University estimate that Chinese tariffs of 25% on U.S. soybean imports would cut income for a midsize Illinois grain farm by an average of 87% over four years, prompting a loss of more than $500,000 in the farm’s net worth by 2021.”
NBC News: Soy farmers say they’re getting hurt in Trump’s trade war with China
“’This could not be happening at a worse time for U.S. farmers and ranchers,’ Michele Aavang, an Illinois soy farmer and Farm Bureau member, told NBC News in an email.
Peoria Journal Star: As Chinese soybean tariff looms, Illinois farmers face grim economic prospects
“But the overall economic forecast remains grim for farmers in Illinois, the state that was the top producer of soybeans last year and perennially a top exporter of grain.
The international trade battle comes at a time when farmers already are struggling, with one recent study by the University of Illinois predicting a 66 percent decline in net farm income in 2018.”
“The negative impact of the Republican trade war is no longer theoretical for Illinois farmers. Reps. Bost and Davis owe them much more than empty words, they owe them an explanation of what they are going to DO to protect their constituents’ livelihoods.” – DCCC Spokesperson Jacob Peters