North Dakota soybean processors hit hard by tariffs as China cancels orders

[jpak]

Source: CNBC

As the trade war between the U.S. and China heats up, North Dakota soybean processors are watching their selling season go to ruin.

The head of the North Dakota Trade Office says Chinese buyers have killed all of their firm orders for food-grade soybeans, valued at $1.2 to $1.5 million. The cancellations happened just prior to and immediately after tariffs went into effect in July.

North Dakota processors usually sell $30 million to $35 million in food-grade beans to China annually - with most of those contracts finalized in the summer months. They get those beans from farmers who they contract with before seeds are planted.

“Our food grade processors are normally working between July and August to lock in contracts with foreign customers,” says Simon Wilson, Executive Director of the North Dakota Trade office. “With China now on the sidelines they are working other Asian countries to see where they can sell the product."

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Read more: https://www.cnbc.com/2018/07/11/north-dakota-soybean-processors-hit-by-tariffs-as-china-cancels-orders.html

[keepFocused06]

1. The reap what they sow

The troll told them he was going to put tariffs on good when he ran and these idiots voted for him anyway. Hate to say it but the brought this on themselves. Pretty hard to feel any empathy for them to be honest.

[Still In Wisconsin]

4. Yeah, but TRUMP "pisses off da libruls" so they will vote for him again.

More and more, I think what a majority of Republican voters want is to bring pain upon their perceived enemies.

[jpak]

5. That was alright with them as long as he made racism, misogyny and bigotry cool again

Let them pay their bills with "Lock her Up!" chants.

[Matthew28]

2. Good

I hope all these Trumpers suffer and lose everything.

We need a depression in order to wake up the idiots to reality.

Reality should hurt when one does something stupid!

[uppityperson]

16. I hope you realize that not all North Dakotans are Trumpets and wishing they lose everything is nast

[rpannier]

18. Maybe not, but North Dakota seems like one of the good places to start

Every elected statewide position is a republikkan, half of their us senators are republikkan, their house member is one, 81 of 94 state house and 38 of 47 state senate are republikkans.
One of the good places to start wishing bad things.
The argument that not all are trumpists is not that material (IMO). North Dakota is a part of the problem and if their is going to be suffering, let it be in those areas that cause the destruction
If that's nasty or mean, so be it.

[JI7]

19. and if you look into these industries they do tend to be very right wing

[TheCowsCameHome]

3. At least they'll have beans to eat next winter.

And BTW, if you voted for Trump - tough shit.

[wellst0nev0ter]

6. Womp Womp

tots and prayers, magatards

[pangaia]

7. To all you North Dakotans who voted for this shitbag, you can eat beans!

[heaven05]

11. so true nt

[still_one]

8. I could care less. If they lose their farms tomorrow perhaps next time they will consider more

carefully who they are voting for

[Iliyah]

9. It's ok with them since t-rump and the GOPers have no problem

caging brown children.

[heaven05]

10. trumps MAGA

I read somewhere the suicide rates among farmers was already pretty high. Well, trump is one evil bastard. He doesn't care. He's a narcissist in his presidential approach to things, what's in it for me is the question that the whole family asks first. Gonna destroy these farmers livelihoods, jobs. What a disaster this potus is for america. He's worse than a Cat 5 hurricane.

[bluestarone]

12. Hell wouldn't surprise me if RUMP

comes up with some kind of special treatment for ALL the farmers (Midwestern) before midterm to buy there fucking votes!!!

[roamer65]

13. Hahahahahahahahah.

Suck it up Dump lovers.

[Sam McGee]

14. On top of the tariffs . . .

. . . the new farm bill reduces federal subsidies for crop insurance and price supports. These two measures will substantially increase costs to farmers as they will pay more for crop insurance and get less in price supports.

[louis c]

15. Fuck 'Em...

I couldn't care less.

isn't it ironic that the economy is doing much better in counties Hillary won, and the economy generally sucks in the counties Trump won.

I live in Boston Massachusetts. We really have very little problems with the tariffs. The Cranberry farmers and lobstermen are being hit, but they tend to be in the Trump demographics, even in Massachusetts.

the building trades, manufacturing, health care, education, high tech., we are all doing great.

So, fuck the farmers, the coal miners, the morons at Harley Davidson and the rest of the Trump sycophants. You ,ay have celebrated on November 8, 2016, but today, I'm getting to laugh.

Again, fuck you and I hope you all lose your farms. Too the few of you who voted correctly in 2016, I have sympathy. But, after all, there wasn't enough of you to stop him.

[SCVDem]

17. I believe the word is

Schadenfreude!