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.
Senator says South Dakota lost half a billion dollars from Trump's trade war
Sen. Mike Rounds (R-S.D.) told Axios' Mike Allen on Thursday that President Trump's trade war with China has caused the price of his state's soybeans to plummet 20%, costing South Dakota half a billion dollars.
Why it matters: Data show America's farmers have gone through significant economic pain as a result of the ongoing U.S.-China trade war. Republican lawmaker who represent rural parts of the nation have been divided in whether to continue supporting the Trump administration's efforts, even as they take a toll on their constituents.