Indiana Economic Digest | Indiana
Advanced Search

• Most Recent




home : most recent : tippecanoe April 25, 2018


3/28/2018 9:03:00 AM
Potential Chinese tariff can be a gut punch to West Central Indiana soybean industry
A large field of soybeans in the late afternoon sunlight Monday, September 23, 2013, off County Road 800 S southwest of Lafayette. Staff photo by John Terhunes
+ click to enlarge

A large field of soybeans in the late afternoon sunlight Monday, September 23, 2013, off County Road 800 S southwest of Lafayette. Staff photo by John Terhunes


Jeong Park, Journal and Courier Reporter

TIPPECANOE COUNTY — West Central Indiana's soybean industry has suffered a lot since the 2012 drought.

The industry has lost markets as countries look elsewhere for soybeans. With rebounding supply, the soybean prices have dropped by nearly half since 2012. Rising equipment costs and interest rates are adding to the farmers' debt. 

"I know there are some farming operations that are living on a very thin line," said Kevin Underwood, a Tippecanoe County councilman and a long-time soybean farmer. 

More punches may come: China may impose tariffs on U.S. soybean to retaliate against the Trump administration's proposed tariff on Chinese products. 

"Trade war doesn't usually go well for Indiana," Underwood said.

More: Here's how a trade war with China could affect Hoosiers

West Central Indiana, which includes Tippecanoe and nine other counties, produced more than 40 million bushels of soybeans in 2017. The state as a whole produced 320 million bushels, equaling around $4 billion.

But beyond those numbers, soybean plays an important role in Tippecanoe County and West Central Indiana agriculture.

Related Links:
• Journal and Courier full text

Related Stories:
• How steel and aluminum tariffs can affect Lafayette manufacturers
• Newspaper industry warns paper tariffs could imperil jobs, news
• OPINION: Exports, imports and Indiana's economy
• COMMENTARY: Donald Trump versus Adam Smith and tariffs
• Metal tariffs pose threat to Elkhart County economy, RV and boat manufacturers warn
• Columbus farmer casts wary eye on Trump policies
• Agricultural tariffs are stressing some Indiana farmers
• Trade war? North central Indiana area farmers waiting, aren't panicking just yet
• Tariffs on imported steel and aluminium could cost IU millions

Copyright 2018 www.jconline.com






Editor, John C. DePrez Jr.; Executive Editor, Carol Rogers; Publishers: IBRC and IAR


Software © 1998-2018 1up! Software, All Rights Reserved