Four events that impacted commodity prices most severely
Posted on: September 18, 2024 at 10:18:47 CT
BH O'bonga MU
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during my farming career were:
Carter's Russian grain embargo
Carter's recession (close to a depression in agriculture)
Trump's China tariffs
Biden's Russian sanctions
As for the last two. In response to Trump's tariff's China cancelled shipments of American corn and soybeans almost entirely. They were our major export market. In the past two years China has sourced imports of corn and cereal grains from Russia and soybeans from South America. China is no longer a dependable customer for our grains.