88 - Biblical Weather, Trade Disputes, Prevented Planting, MFP….Ag's Perfect Storm

Farm folks, as I always joke, are obsessed with the weather. This Spring they have good reason to be, with the vast swath of Agriculturally productive area impacted by storms, floods, and incessant rains. At the time of this recording (May 31, 2019), record levels of unplanted corn and soybean acres sit idle. Combined with the weather issues are trade disputes with China, and now Mexico, the US's second biggest Ag customer. On top of weather and trade disputes, farmers have crop insurance dictates to work around, and a USDA "trade aid" program that was announced—but completely void of details. What does all this mean for the Business of Agriculture? John Newton, chief economist for the American Farm Bureau Federation joins me to discuss Ag's perfect storm. Will we see $6 corn, trade deals finalized, higher food prices, and how many acres will remain idle? Join the conversation for our take.