President Trump just announced yet another round of emergency bailouts for U.S. farmers. This emergency aid will be greatly welcomed by countless struggling farmers, but a few thousand dollars won’t be nearly enough to save most of the farms that are on the verge of failing. Coming into 2019, farm debt was already at a record high and farm bankruptcies were already rising. But then crazy weather patterns made planting season a complete and utter mess, and more crazy weather patterns have turned harvest season into a major disaster. On top of everything else, the Trump administration’s trade dispute with China has greatly reduced U.S. agricultural exports and hurt prices. This has been an absolutely nightmarish year for U.S. farmers, and a series of government bailouts hasn’t done much to ease the pain. (Read More...)
Farmers
According To The Federal Government, 19 Million Acres Of Farmland Were Not Planted With Crops This Year
If that headline sounds really bad to you, that is because the situation that we are facing is really bad. Over the past few months, I have written article after article about the unprecedented crisis that U.S. farmers are facing this year. In those articles, I have always said that “millions” of acres of farmland did not get planted this year, because I knew that we did not have a final number yet. Well, now we do, and it is extremely troubling. Of course there are some people out there that do not even believe that we are facing a crisis, and a few have even accused me of overstating the severity of the problems that U.S. farmers are currently dealing with. Sadly, things are not as bad as I thought – the truth is that they are even worse. According to the U.S. Department of Agriculture, crops were not planted on 19.4 million acres of U.S. farmland this year. The following comes directly from the official website of the USDA… (Read More...)
The Average U.S. Farm Is $1,300,000 In Debt, And Now The Worst Farming Crisis In Modern History Is Upon Us
We haven’t seen anything like this since the Great Depression of the 1930s. Leading up to this year, farm incomes had been trending lower for most of the past decade, and meanwhile farm debt levels have been absolutely exploding. So U.S. farmers were desperate for a really good year, but instead 2019 has been a total disaster. As I have been carefully documenting, due to endless rain and catastrophic flooding millions of acres of prime farmland didn’t get planted at all this year, and the yields on tens of millions of other acres are expected to be way, way below normal. As a result, we are facing the worst farming crisis in modern American history, and this comes at a time when U.S. farms are drowning in more debt than ever before. In fact, the latest numbers that we have show that the average U.S. farm is 1.3 million dollars in debt… (Read More...)
Crops Devastated As More Ferocious Storms Pound The Midwest – “It’s Hard To Get Your Head Around Just How Bad It Is”
It has gotten to the point where maybe we should just expect violent storms to hammer the Midwest every single day of the week. Highly destructive storms ripped through the Midwest on Tuesday, it happened again on Wednesday, and the forecast calls for more powerful storms on Thursday. This growing season has been a complete and utter nightmare for U.S. farmers, and each day it just gets even worse. Millions of acres will not be planted at all this year, but an even bigger problem is that fact that crops are dramatically failing on tens of millions of acres that were actually planted in time. Every major storm does even more damage, and that is why what we have witnessed so far this week has been so alarming. (Read More...)
Torrential Rain Of Biblical Proportions Is Causing Immense Devastation For Midwest Farmers
The wettest 12 months in all of U.S. history was followed by the second wettest May on record, and for some parts of the Midwest the month of June will be even worse. Some portions of Ohio and Indiana have gotten 10 more inches of rain since Friday, and more rain is literally falling on the Midwest as I write this article. When I describe what we have witnessed as “torrential rain of Biblical proportions”, I am not exaggerating even a little bit. Even before we got to the month of June, farmers in the middle of the country were already dealing with a disaster unlike anything that they had ever experienced before. And just when everyone thought that it couldn’t possibly get any worse, it did. Since Friday, the rainfall totals in the Ohio Valley have been staggering… (Read More...)
U.S. Farms Are Facing Their Worst Crisis In A Generation – And Now Here Comes Another Monster Storm
The combination of the wettest planting season in U.S. history, a catastrophic trade war with China and economic conditions that are brutal for small farms has produced a “perfect storm” for U.S. farmers. Farm bankruptcies have already risen to the highest level in 7 years, but many expect that they will soon surge to all-time record highs. Due to the incredibly wet weather, millions upon millions of acres of prime U.S. farmland will not be planted with crops at all this year. And millions of acres that do get planted will yield a lot less than usual because of the wretched conditions. Meanwhile, the U.S. will export far less corn and soybeans than usual this year due to our trade conflicts with China and Mexico. With much less international demand, U.S. farmers are going to have an increasingly difficult time trying to make a profit on anything they are able to grow. In the end, thousands of farmers will not be able to recover from this crisis and will be forced out of the industry for good. (Read More...)
Due To Cataclysmic Flooding, Millions Upon Millions Of Acres Of U.S. Farmland Will Not Be Planted With Crops This Year
It looks like 2019 could be the worst year for U.S. agriculture in modern American history by a very wide margin. As you will see below, millions upon millions of acres of U.S. farmland will go unused this year due to cataclysmic flooding. And many of the farmers that did manage to plant crops are reporting extremely disappointing results. The 12 month period that concluded at the end of April was the wettest 12 month period in U.S. history, and more storms just kept on coming throughout the month of May. And now forecasters are warning of another series of storms this week, and following that it looks like a tropical storm will pummel the region. As Bloomberg has pointed out, we have truly never seen a year like this ever before… (Read More...)