Trade wars, climate change plunge the family farm into crisis.

[Yo_Mama_Been_Loggin]

Is it an endangered American institution?

Farm bankruptcies in September surged 24% amid a perfect storm created by President Donald Trump's trade war with China and Europe, slumping commodity prices, and a year of unfavorable weather. This August, the USDA reported that more than 19.4 million acres of farmland nationwide weren't planted due to record spring rains and historic, catastrophic flooding.

American Farm Bureau Federation, the nation's largest general farm organization, U.S. farmers increasingly depend on trade aid and other federal programs for income. Record-high debt and a rise in Chapter 12 farm bankruptcies should come as no surprise, the Farm Bureau reported.

"Data from the U.S. Courts reveals that for the 12-month period ending September 2019, Chapter 12 farm bankruptcies totaled 580 filings, up 24% from the prior year and the highest level since 676 filings in 2011," it said.

The figures also highlight the importance of a "phase one" deal the administration is currently negotiating with Beijing to increase agriculture imports in return for a pause in escalating U.S. levies. China said on Friday it has reached a consensus in principle with the U.S. during trade talks this week.

https://www.msn.com/en-us/news/us/trade-wars-climate-change-plunge-the-family-farm-into-crisis-is-it-an-endangered-american-institution/ar-AAJJFGj?li=BBnb7Kz

Nobody does bankruptcy better than me - Donald Trump