Anxious farmers reduce spending in threat to rural economy

Sunny skies and mild temperatures this week greeted the biggest U.S. farm show of the year.

- By MICHAEL HIRTZER

MARK German loads soybeans in Dwight, Ill. Farmers expect big crops this fall but uncertain demand.

The contrast couldn't be greater with the sentiment among attendees as low crop prices and trade tariffs squeeze the agricultural sector.

The market for American crops is getting “pretty nasty,” said Scott Metzger, who drove more than 300 miles to attend. That helped to keep the mood subdued at the Farm Progress Show this week in Illinois.

Metzger grows soybeans, corn and wheat in Ohio, and he said farmers are dealing with too much chaos to think about spending this year on big-ticket items like the gleaming tractors and combines on display. It’s the latest sign of trouble for the farm economy.

America’s farmers are expecting bumper crops this fall, but they’ve got little idea of where all the supplies will go. China, historically the biggest buyer of U.S. soybeans, hasn't inked a deal for a single cargo from this year’s harvest, which starts next month. Blowback from President Trump's trade war has served to further chill the administration’s already icy relationship with the Asian country.