Economic News Thread | 3Q Annual GDP 2.8%

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Everyone be sure to check on your Republican friends during these very difficult booming economic times.
 
This issue was discussed in a different thread last week, couldn’t recall which, but seems more on topic here:

GIFT LINK


Opinion | A big problem for young workers: 70- and 80-year-olds who won’t retire​

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With five generations in the workforce, it’s harder for beginners to get hired or promoted.​


IMG_2496.jpeg
 
About food prices … bumper crops on American farms may mean good news for American consumers but farmers are bummed.

Gift link —>. https://www.wsj.com/finance/commodi...zpssiwgrx9to&reflink=mobilewebshare_permalink

The U.S. Corn Crop Is Great. Farmers’ Finances, Not So Much.​

Grain prices have been in free fall since the Covid commodity boom ended, forcing some growers to consider difficult changes​


“…
Grain prices, under pressure since the Covid commodity boom crested, have fallen further in 2024. Rainfall has been ample across farm country for the first time in years, staving off the drought that has plagued the central U.S. and putting Midwestern corn and soybean harvests on track to set records.

That is intensifying what was already shaping up as a dismal year financially on the farm. Budgets drawn up in the spring are no longer viable. Persistently high costs for farm essentials such as seeds and fertilizer are gobbling up revenue.

… It is a return to leaner prepandemic times for many farmers. Prices for corn and soybeans were rangebound in the second half of the 2010s, weighing on farm returns. The record-high prices in 2021 and 2022 gave farmers a boost, but momentum has once again turned against them. …”
 
nycfan said:
This issue was discussed in a different thread last week, couldn’t recall which, but seems more on topic here:

GIFT LINK


Opinion | A big problem for young workers: 70- and 80-year-olds who won’t retire​

​

With five generations in the workforce, it’s harder for beginners to get hired or promoted.​


IMG_2496.jpeg
Click to expand...
I promise to do everything possible to NOT be working in my 70's or 80's, if I'm still here.
 
nycfan said:
About food prices … bumper crops on American farms may mean good news for American consumers but farmers are bummed.

Gift link —>. https://www.wsj.com/finance/commodi...zpssiwgrx9to&reflink=mobilewebshare_permalink

The U.S. Corn Crop Is Great. Farmers’ Finances, Not So Much.​

Grain prices have been in free fall since the Covid commodity boom ended, forcing some growers to consider difficult changes​


“…
Grain prices, under pressure since the Covid commodity boom crested, have fallen further in 2024. Rainfall has been ample across farm country for the first time in years, staving off the drought that has plagued the central U.S. and putting Midwestern corn and soybean harvests on track to set records.

That is intensifying what was already shaping up as a dismal year financially on the farm. Budgets drawn up in the spring are no longer viable. Persistently high costs for farm essentials such as seeds and fertilizer are gobbling up revenue.

… It is a return to leaner prepandemic times for many farmers. Prices for corn and soybeans were rangebound in the second half of the 2010s, weighing on farm returns. The record-high prices in 2021 and 2022 gave farmers a boost, but momentum has once again turned against them. …”
Click to expand...
Not saying this isn’t electorally significant, but isn’t this the age-old story of American farmers? Prices go up, you do well. Prices go down, you do poorly. And taxpayers subsidize you in a massive amount so you don’t stop growing corn in the latter scenario.
 
lawtig02 said:
Not saying this isn’t electorally significant, but isn’t this the age-old story of American farmers? Prices go up, you do well. Prices go down, you do poorly. And taxpayers subsidize you in a massive amount so you don’t stop growing corn in the latter scenario.
Click to expand...
It also seems like when there is drought we get stories about how the crops are failing which is terrible for farmers. Now we have a bunch of rain and crops are good, which is (checks notes) terrible for farmers. Maybe it's just tough to be a farmer.
 
nycfan said:
About food prices … bumper crops on American farms may mean good news for American consumers but farmers are bummed.

Gift link —>. https://www.wsj.com/finance/commodi...zpssiwgrx9to&reflink=mobilewebshare_permalink

The U.S. Corn Crop Is Great. Farmers’ Finances, Not So Much.​

Grain prices have been in free fall since the Covid commodity boom ended, forcing some growers to consider difficult changes​


“…
Grain prices, under pressure since the Covid commodity boom crested, have fallen further in 2024. Rainfall has been ample across farm country for the first time in years, staving off the drought that has plagued the central U.S. and putting Midwestern corn and soybean harvests on track to set records.

That is intensifying what was already shaping up as a dismal year financially on the farm. Budgets drawn up in the spring are no longer viable. Persistently high costs for farm essentials such as seeds and fertilizer are gobbling up revenue.

… It is a return to leaner prepandemic times for many farmers. Prices for corn and soybeans were rangebound in the second half of the 2010s, weighing on farm returns. The record-high prices in 2021 and 2022 gave farmers a boost, but momentum has once again turned against them. …”
Click to expand...
How much of this issue is due to Donald’s tariff war that resulted in buying of our soybeans and corn scrambling for different markets to buy?
 
I'm in the grain commodities business, had a real good crop in the midwest last year too so this is a double whammy on prices. Add to that that we had drought conditions in NC this summer when the corn needed rain and the corn crop in NC this year sucks, but the midwest crop is what controls futures levels. Basic supply and demand. I suspect that the specter of Trump winning the election and instituting tariffs isn't helping much either. The last time he did that soybean prices cratered, I suspect there's some element of worry about that same thing happening again, but of course he just wrote a check to farmers last time so they love him. So much for free market capitalism...
 
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I'm all for farmer subsidies, you can't take chances with the food supply so we have to make sure farmers can make a living growing our food, including corporate farms, but they're going to get subsidies under any administration.
 
From the article: " Other costs include hiring workers, purchasing seeds and paying for fuel. "

I wonder how mass deportation is going to affect that first item on the list?
 
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