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Indiana Farm Bureau Survey: trade is negatively impacting members

Indiana Farm Bureau recently asked its members to gauge how the ongoing trade disputes and tariff hikes are impacting their farms. More than 70% of the respondents said the current trade environment’s impact on commodity prices is jeopardizing their farm.

Commodity prices have dropped since tariffs between the U.S. and China were announced. In April of 2018, soybeans were holding firm at about $10.40 and today soybeans are in the $8 range. Corn prices have also dropped.

Indiana Farm Bureau President Randy Kron says the agriculture industry is dealing with several issues that impact a farmer’s bottom line and the financial situation has become even more concerning with trade disputes.

The survey asked members about the U.S. Mexico Canada Agreement. Fifty-six percent of respondents said they were not satisfied and 60% said it was important that the USMCA is ratified.

Farmers are also facing a delayed planting season because of wet and cool conditions. Despite the delays, INFB members said they are relatively positive they’ll be able to plant a crop this year. When asked during the week of May 13 if they were likely to make prevented planting claims, 70% of farmers said it was unlikely. 

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