'This is awful discouraging': Iowa farmer warns of potential crisis as China halts soybean purchases
Iowa soybean farmer Warren Bachman warns of a potential farm crisis after China halted purchases of U.S. soybeans in retaliation against new tariffs imposed by President Donald Trump.
Bachman, who has been growing corn and soybeans just west of Osceola for 64 years, said China's decision is catastrophic.
"This is awful discouraging. You know, we do our very best to grow a good crop, to feed the world, and then we can't hardly give it away," he said.
Despite having voted for Trump, Bachman blames him for the soybean crisis, stating that the new tariffs are forcing China to buy soybeans from Argentina and Brazil. As a result, many Iowa farmers face selling this year's crop at a significant loss.
"The way things are, there won't be a farmer left in five years if things don't change because our expenses are so high. And, the crop is worth less than it was 30 years ago," Bachman said.
Having survived the farm crisis during the 1980s, which led to thousands of farm foreclosures, Bachman is skeptical of the Federal government's crop payments as a solution.
"We would rather have free markets than a handout," he said.
Bachman recently reached out to Iowa Sen. Charles Grassley for assistance with establishing free markets.
"I told him that the 1980s farm crisis is going to look like a picnic compared to today. If things don't change and change fast," Bachman said.
U.S. farmers are now looking for new markets to sell their soybeans, possibly for biodiesel, which could lead to fewer soybeans being planted next year.
