Soybean Farmers Watching G-20
As world leaders head to the Group of 20 talks in Argentina on Wednesday, soybean farmers are among those hoping to see some sort of trade truce struck between the U.S. and China.
While trade with China had been a top issue for President Donald Trump in the last several months leading up to the G-20 summit, now events could become overwhelmed with a possible meeting between President Trump and Russian President Vladimir Putin in the midst of Russia-Ukraine aggression.
The trade row continues to weigh heavily on U.S. soybean farmers who may be watching the G-20 talks as much as anyone. The Iowa Soybean Association issued a statement Tuesday from its president, Lindsay Greiner, a farmer from Keota, Iowa, who strongly urged President Trump and Chinese President Xi Jinping "to make the most of the opportunity" by understanding the "real and personal impact of the prolonged trade war on the people you represent."
The soybean challenges prompted a Louisiana congressmen to draft legislation seeking changes to the Market Facilitation Program, the trade-aid program that pays farmers for trade losses. Rep. Ralph Abraham, R-La., said changes are needed because there is simply no place for farmers in his state to store soybeans because of the sheer volume of out-of-state soybeans taking up elevator space. Storage has become a problem in several states where farmers are used to taking soybeans directly to the river or rail lines right after harvest for export.
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