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

An American farmer holding his soybean crop
Photo: Johannes Eisele/AFP/Getty Images

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