Not just corn: Flooding also threatens this year's soybean planting

Excessive rain could significantly reduce the number of soybean acres planted this year, following an extremely low planting of corn acres this year, reports Bloomberg.

Why it matters: Farmers have long been struggling since President Trump initiated a trade war with China, which is the world's largest soybean purchaser. Soybean prices are at a 10-year low.

Go deeper: Soybean farmers dragged deeper into Trump’s trade war