CHARLESTON, S.C. (AP) — Farmers in South Carolina who grow soybeans are worried about prices this year because of the uncertainty involving the trade conflict between the United States and China.
Sumter grower John Rivers told The Post and Courier of Charleston he hopes conditions change before his 800-acre (324-hectare) crop is harvested and sold, most likely to a feed company.
“Our crops are still growing, so until November, I won’t have to deal with that,” Rivers said. “I’m hoping something changes between now and then.”
Last year, Rivers said he sold his crop for about $10.30 per bushel. But the current price is just $8.94 per bushel. So far, Rivers has only sold 10 percent of his crop. If the $8.94 per bushel price holds, he will have lost an annual profit of about $80,000.
Soybeans are one of the crops most affected by the tariffs announced by President Donald Trump and the retaliatory tariffs against American imports of soybeans and pork.
Rivers says he thinks the market uncertainly will work itself out.
“We’ll have to cut costs and make adjustments and change a few things,” he said.
More than 2,600 farmers in South Carolina grow soybeans, having planted about 400,000 acres (161,878 hectares) last year.
Soybeans have become the third-largest cash crop in South Carolina, with a value last year of nearly $138 million. The National Agriculture Statistic Service said corn was the number one crop in South Carolina, at nearly $188 million. Cotton was second at about $151 million.
The Trump administration has promised an aid package of 12 billion for farmers hurt by the tariffs. It is unclear how much money will go to South Carolina farmers, said Sally McKay, a spokeswoman for the state agriculture department.
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Information from: The Post and Courier, http://www.postandcourier.com
–Associated Press