"Both Candidates are Bad for Trade" (Soybeans, China)

[@livingthedreamag]

SE Missouri, Just started harvesting soybeans planted April 26th. The first 20 acre field made 25 bushels to the acre. Average yield is around 45-50. Drought had a major impact in our area.

[@brucebruhn5620]

Stepped up basis and unrealized capital gain and you have to ask someone who would be better for farming. You might want to consider a gov. job with 4 day workweek and paid federal holidays.

[@chadspurling7411]

Are you worth over 100 million dollars? Because otherwise it doesn't apply.

[@2992texley]

I hope there will be more diversification with in the demand for domestic grain, to add more crops into our rotations and not have so much relying on just two crops. More demand for small grains, and incentive to include grazable cover crops in a rotation. Lower production costs while increasing soil health.

[@mbailey12341]

@@2992texley right on. 👍We subsidize crop production in the interest of food security then we need to subsidize the renewable fuels industry to get rid of the grain. Doesn’t seem right does it? We can grow a big “pile” but there is very little incentive in the markets to raise good quality nutrient dense foods. And yes we are destroying our soils in the process 😢

[@Justin-e2h]

I’m a Kansas wheat farmer, and it has gotten to the point where nobody wants to grow it. Very little money in growing wheat. With guarantees such a low bushel, and the drought make it hard.

[@scottsmith6631]

Don't base your voting decision on who will give you higher grain prices. That's frankly short-sighted. Vote based on whose policies you think will be better for America over the next 4 years.

[@jonathanpetersen2312]

In South East Nebraska corn moisture is 10.8 on dryland 12 on irrigated thats hurting yield. Yield around aph some lower.

[@gusp8967]

Yes, same northeastern Nebraska.

[@drdrisu31]

Mackenzie 2028? NO!!!! It’s time for a write in. MACKENZIE 2024😊

[@Luke-br1hr]

Wrapped up our corn. 60 BPA, last year was 150. NC will likely be below 80 bushel average

[@jknelson82]

Is Paul still talking about the "typical" landholder as owning several thousand acres of ground? I don't many typical farmers in Iowa who own that much. Maybe Bruce Rastetter or Harry Stine count if you drastically redefine typical. Completely eliminating stepped-up basis is a problem, but Paul even concedes on his own podcast that it can be avoided by 90 percent of farmers with a bit of advanced planning.

[@wadepregitzer2532]

As parts become so high that domestically we can produce them, someone here will. our wages are probably 10 to 1 theres. Rather trade war then stepped up basis.

[@jeffac500]

My part of seneca county in northern Ohio has corn and bean yields down 20-25% tho other areas nearby are better. We are on pace to finish harvest easily before Halloween, and our usual goal is to be done by Thanksgiving.

[@okboomer506]

Definitely getting variable soybean yields, one end of the field 60's, the other end 30's, moisture is in the 7% range now. Never have had soybeans this dry. Some corn coming into the elevator ranging from 12% to 18% moisture. Norther SD.

[@prairiebrothers9044]

Do you think the market would consider it bearish futures when Mississippi river levels decline because grain left in the country? at least in the short term?

[@GrainMarketsandOtherStuff]

Good morning! What worries your more....a US/China trade war, or an elimination of stepped-up basis?

[@timnichols9015]

I could care less about stepped up basis. Not going to sell, kids not going to sell…..

[@GrainMarketsandOtherStuff]

@@timnichols9015 The proposed policies will likely to apply to transfers as well as sales. It's complicated, lots of things to consider.

[@whjerts]

@@timnichols9015Harris is talking about capital gains taxes on unrealized gains, so they get you even if you don’t sell.

[@urokim]

@@timnichols9015 the kids will sell when they can't pay simple as that

[@chadspurling7411]

The elimination of stepped up basis only applies to those with a net worth over 100 million dollars, and it only applies to the amount OVER 100 million dollars. How many farms is that going to impact?

[@bertownie14]

US farmets need to find crops other than beans wheat and corn. Diversification is paramount to keep farmers sustainable. As far as taxes go, proper planning prevents piss poor performance.

[@lilblackduc7312]

Mackenzie for president! 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸 👍 👍 👍 👍

[@williegrow4931]

Good morning.. happy Friday

[@kurtkalenberg7454]

I'll take TRUMP 11 out of 10 times. People don't have a clue of what's about to happen in the not to distant future

[@ryanmarkey5012]

Neither candidate will run the country like a business. The debt will continue to explode and the dollar will continue to devalue. Also the government cannot govern morality so those issues will not be resolved either.

[@cboutdoorfun9955]

These trade wars are hard I don’t know that there is a right way to get businesses to stay in the USA and source from suppliers not in China without taxes and terriffs since China can produce components for so cheap

[@mbailey12341]

There should be no free lunch. If grandad bought his farm at $100 per acre, the day that gets sold for cash so the grandkids can go party with it, that gain needs to be taxed. I’m ok with the gains being “deferred” if the land stays in the family meaning it gets passed to a child or grandchild (guidelines negotiable on that) but the day it is actually sold for cash the gains need to be taxed.

[@EricCarlson-bz2pt]

Jew?

[@mbailey12341]

@@EricCarlson-bz2pt that took a lot of effort to come up with 😂

[@nickkercheval2704]

I’ve been saying the same thing as Bloomberg for a while. Personally, my big concern is a trade war

[@mikeschoeder3922]

Are both bad for trade? One definitely, but the fella on the right side needs to be in office. We need changes in so many other ways. Or is it really isn't going to matter??

[@nate9027]

Correct me if im wrong but didnt the one on the right already hold the office of president?

[@EricCarlson-bz2pt]

Ya we need more Trump vax's and lockdowns back.

[@billcarlson1730]

Trump bad for trade? Well, I don't like high gas or food prices, even higher income taxes capital gain taxes or any unrealized gain taxes. I don't like anymore of the left's restrictions, rules or more regulations. I also don't want my cities or police departments burnt down or my police departments defunded. I am also not a fan of open borders. I do like my g u n s and live babies. I will be voting for Trump even if you say he is bad for trade.

[@kevinnoah-i4o]

Enjoy your Government checks if Trump gets elected. Jhina Trade War is so good for crop prices. 😂

[@ttanne7838]

@@kevinnoah-i4o Harris is good Gov. overreach and to many taxes. Corruption at its best from Harris.

[@EricCarlson-bz2pt]

And your Trump vax and fauci mask

[@matttipple9066]

I think 100 million Americans are with you.

[@richardduke9788]

I would definitely vote for a candidate that would appoint McKenzie for Secretary of Agriculture . Trump campaign ideas are negotiable when elected . But Kammy Baby is deadly serious about changing our way of government from Capitalist to Socialist .

[@DefinitelyNWYT]

Can you all please read the proposals? That podcast episode you reference had the most loaded hypothetical I could imagine. Even your Paul chuckled at the absurdity. Why do you seem to think the average land owner is thousands of acres? Joe, you're not even close to impartial because you're starting with flawed assumptions. The unrealized capital gains does not apply to farmland. “25% tax on unrealized capital gains would apply only to people with a net worth of $100 million or more, or the richest 0.01% of people in the country. Even then, it would not apply to the entirety of the concerned group, but only to those who own 80% of their wealth in tradable assets (stocks, bonds, crypto currencies - in other words, securities that can be sold easily on a secondary market). This would exclude anyone whose fortune is made up of shares in privately held businesses or real estate” - Snopes Harris’s proposal makes no mention of changing stepped-up basis. If we assume Biden’s proposal, there is a $5 million exemption per heir ($10 million married couple). That’s just the capital gains too. Not the full value of the asset. Say it was though. Assume average land price $15,000/ac; you’re landing around 333 acres per heir. If you can’t pay taxes on 333-666 acres of free dirt, you shouldn’t be farming. The average US farm size is 464 acres. EVEN THEN, capital gains and basis only matter if you SELL. This is moot for multigenerational family farms. It actually probably benefits family operations by dissuading outsized investments driving up land costs. Broad tariffs hurt Americans. Strategic tariffs can benefit domestic production of key sectors. The Peterson Institute for International Economics has a nice page of data analysis from the phase one trade deal. It was never going to meet the absurd targets it set. China committed to an agreement without teeth. Exports are still in line with estimates made prior to the trade war. They're consuming at the predicted rate. “These estimates suggest the United States would have avoided trade war export losses of $24 billion (16 percent) in 2018 and $30 billion (20 percent) in 2019. Exports would also have been $27 billion (18 percent) higher in 2020 and $40 billion (23 percent) higher in 2021 than under phase one. Without the export losses in 2018-19, American taxpayers would also not have needed to foot the bill for tens of billions of dollars of farm subsidies.”

[@trish2192]

I am a patriot first. God,family,country and the right to defend myself. Trump has the back bone for our current state of affairs. I love the unborn,I love old people,and I don’t want to burn in hell for eternity. I never miss a vote and do not vote for a candidate based on grain prices. Trump is a great leader PERIOD.

[@kevinnoah-i4o]

Putin is Trumps Daddy!😮

[@ttanne7838]

I am not a one issue voter. Trump gets my vote.

[@danw6014]

We have had a trade war with China for decades. America has been walking around with a white flag for most of that time with one exception, during the Trump Administration, who finally told China if they want to sell their garbage here they had to buy our grains. A side note China ate over 80 % of the tariffs imposed on Chinese imports. We impose taxes and environmental regulations on everything produced here. I'm all infavor of leveling the playing field with other countries, especially when they steal our intellectual property and capitalize on slave labor. We are very dry here in southeast Michigan. Fall pastures, new hayseedings, winter wheat and fall cover crop will have slow emergence going into winter with temperatures dropping off next week and no rain in our forecast.

[@chadspurling7411]

They were - already - buying our grains. We gained nothing. China didn't "Steal" most of our intellectual property. Companies willingly gave it to them to have access to their markets and labor.