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Navigating the uncertainty of another trade war  

The president of the American Soybean Association tells Brownfield farmers are frustrated as they face the fallout of another trade war. Western Kentucky farmer Caleb Ragland says, “Of all of the Ag trade that we lost in 2018 and 2019, 71% was soybeans.” 

He says farmers are dependent on trade and can’t afford to be the sacrificial lamb. “Unlike the last round of tariffs in 2018, US farmers are operating in a much tougher economic climate, Ragland says.  “We no longer have savings to fall back on.” 

AUDIO: Caleb Ragland, American Soybean Association 

Farm Credit of America agriculture economic and policy advisor Matt Erickson says a trade war makes it even more challenging for farmers to manage their operations. “Don’t focus on the uncertainty,” he says.  “But focus on the certainty with regard to risk management options that you have.” 

He says that includes making sure a proper plan is in place. “Where you can capture some of this upside,” he says.  “Maybe lock in some floors in the marketplace where you do have some of that volatility on the upside. 

AUDIO: Matt Erickson, Farm Credit