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| Wait another week and see what happens with the trade deal.
If no deal gets made and the full tariffs go on, bean acres will be way down and corn acres way up because bean stocks to use will be 30% or more.
If a solid deal is made that includes Chinese purchases then beans will be planted.
The worst situation will be if trump pushes his decision back. We'll all be stuck in limbo until some decision is made. Some farmers will gamble that a favorable deal eventually be made and plant beans, others won't gamble and plant corn instead. If we're lucky, something definitive will happen before corn planting time.
If the Chinese don't capitulate, trump will drag this out as long as he can because he won't want to face the defeat. You only have to look at how the shutdown went to see that. I'd like to think that trump understands that his 25% tariff on all Chinese imports is the economic equivalent to nuclear war that will trigger a stock market crash and recession. But you never really know with trump.
By the way, I asked the question of another bean farmer today who's planted beans on beans the past few years. His answer, he'll plant beans, what choice does he have? Corn costs too much to plant and what else is there? | |
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2019 acrerage ?
