According to the USDA report, United States soybean production is forecast at a record 4.69 billion bushels, but prices are at a reported 10 year low.
However some producers are optimistic due to recent events
Delbert Kadrmas has been a farmer all his life in Belfield,ND, and this year is the first time he has ever planted soybeans.
“- last year canola didn’t work out too good, so we decided to try soybeans”.
Kadrmas right now is running a limited soybean operation, but his crop and other producers’ soybean crop hasn’t been affected by drought or disease, but by a trade war.
“I guess if it is wrong lets fix it, ” said Kadrmas.
In April, China imposed 25 percent tariffs on 50 billion dollars worth of U.S Imports, including soybeans.
“Break even for a lot of producers is around $8 a bushel , and I’ve been looking at a lot of numbers and they’re closer to $7 a bushel,” said Nancy Johnson Executive Director of the ND Soybean Growers Association.
Senator Heidi Heitkamp has been critical of Trump’s stance on China stating , “Farmers should be focused on getting their crop off the field -not worrying about plummeting prices and disappearing markets”.
Johnson said “More than 50 percent of the bids would be placed in the Pacific Northwest by the 1st of September, versus the zero we have been getting this year.”
With all that is going on with soybeans Kadrmas said he is still in support of Trump’s stance on China.
“It concerns me that everybody wants things to happen overnight. It takes time”.
And he said he has a new sense optimism now that President Trump renegotiated the trade deal between the U.S.-Mexico- and Canada.
He feels the president has proven to the American public that he can fix trade imbalance and get deals done.
“I would rather have a little pain-short term-than pain for ten years down the road, because we go a bad deal. Let’s get it done”. Let’s get it fixed,” said Kadrmas.
Kadrmas said he wants to see continued progress on trade, and in this upcoming election he feels a vote for a republican candidate like Kevin Cramer is a vote for Trump.
Cramer has been a continued supporter of Trump’s trade stance, saying in a press release:
“I am grateful that President Trump is keeping the pressure on China with the new United States, Canada, and Mexico agreement. These two markets represent 88 percent of North Dakota’s total exports. This action, combined with the President’s successful update on the United States-Korea Free Trade Agreement, Taiwan purchasing 30 percent more soybeans, and the European Union trade agreement, is further isolating China. I’m pleased to see this strategy resulting in positive developments and I’m optimistic we will win this trade war.”
“Everything he(Trump) says he is going to do he does. He (Trump) at least acknowledges us as farmers,” said Kadrmas
The ND Soybean Council said 70 percent of North Dakota’s soybeans go to the Pacific Northwest, 95 percent of that is purchased by China.