Possible trade war worries local corn, soybean farmers

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Local soybean and corn farmers are worried a threat to impose a 25 percent tariff on specific US exports could have a detrimental impact.

Fred Yoder says he spent more than 40 years farming corn and soybeans throughout Madison and Union counties.

“You know farmers can’t survive without trade,” Yoder said.

This farmer says many in his industry are just barely breaking even and recent threats by both China and the current administration could put his bottom line at risk.

“I can tell you one thing there are a lot of nervous farmers out there today.”

After a volley of threats between both countries, China is threatening to hit the US where it hurts – aircraft, cars and soybeans.

“The Chinese is being very astute in doing this,” OSU Agricultural Marketing Professor Dr. Ian Shepard said.

“Targeting political pressure will now be put pressure on the administration to back away.”

Agricultural economists estimate 1 out of every 3 rows of soybeans planted are exported. Those crops are primarily exported to China where it is converted to oil or feed.

Economists estimate if the tariff was imposed only 1 in 5 rows would be exported.

“If it takes effect...we are going to see a very very tough time in the Midwest,” Yoder said.