This money is going to be used by these soybean farmers, by the cotton farmers in the southeastern part of Missouri, by the corn farmers in Missouri to go and get those loans now from from the banks, because they were not going to be able to get these loans based on their losses and the help, the safety nets not being there.
Caleb Ragland, a Kentucky farmer and president of the American Soybean Association, is warning of an agricultural crisis as China has placed zero soybean orders for the upcoming harvest. It's a departure from typical patterns, where 25% of the U.S. crop goes to China. With prices 40% below three-year highs and production costs rising, hundreds of thousands of farmers face losses unless there's a trade resolution between the two countries.
