Main Street businesses hit by farm downturn, says Kansas City Fed

“Farmland values is usually sort of what everything hinges on in terms of a lot of the challenges as well as also how severe they become,” Kauffman said. “Slight declines is usually what a lot of people are expecting to see inside next year or so, of course, depending on what happens with all the uncertainty on trade.”

Besides soybeans, retaliatory tariffs via China have targeted different major farm commodities, including corn, wheat, sorghum, pork as well as also beef. The punitive tariffs by Beijing have meant China is usually likely to buy more of its soybeans via South America yet some believe the Chinese can’t completely avoid buying U.S. beans since Brazil’s supplies slow to a trickle by the end of the year.

China buys roughly half of the U.S. soybean exports, as well as also roughly one in three rows of soybeans grown on the nation’s farms goes to the planet’s second-largest economy, according to the American Soybean Association. The lion’s share of the U.S. agribusiness trade to China involves soybeans, which are grown primarily in heartland states such as Iowa, Illinois, Minnesota, Nebraska, Indiana, Missouri, Ohio as well as also the Dakotas.

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