Agribusiness stocks in shock as US agriculture stocks drop

Farmers across the country have been hit by a major setback to their fortunes as a new crop of crops are banned in the US due to the drought.

The ban will make US farming a shadow of its former self as US farmers are struggling to feed their families as crops have been cut back in many states.

The Trump administration on Friday said it was taking steps to restore the US agricultural sector, which has been struggling to compete with global markets.

The drought has seen the price of wheat plummet by nearly a third in just a week, and corn by more than a third, according to USDA figures.

Agriculture is one of the main engines of the US economy, but farmers say they are struggling with rising costs of food, poor yields and competition from imports.

In the US, the ban on wheat was put in place in April after the White House said it would use $8 billion in emergency funds to help farmers in the Great Plains, a major US crop.

It means US farmers will no longer be able to buy seeds from the USDA, which is already limited by restrictions on imports.

Farmers in Colorado, Montana and South Dakota will be the only states to not be able use USDA-supplied seeds, according a statement from the Colorado Department of Agriculture.

It comes after Trump said earlier this year that the drought could be the “worst drought in American history”.

In a statement, the Trump administration said the decision to ban the import of USDA-produced seeds was made because “our government cannot continue to subsidise the very farmers who are forced to resort to using other countries’ seed to feed our families”.

The move to ban imports comes as the drought has affected farm production in the United States, where farmers have faced food shortages, soaring prices and higher food prices.US President Donald Trump speaks during a briefing with reporters at the White Palace in Seoul, South Korea, January 23, 2021.

The USDA said it will continue to provide assistance to the states impacted by the drought, as well as the farmers affected by the ban.

“We will continue working to find ways to assist farmers, farmers in drought-stricken regions, who have been impacted by drought-related challenges, in order to ensure that they can sustain their families and provide for their families,” the agency said.

The freeze on US-produced wheat came as USDA data showed that the crop is experiencing a record low yield, with yields dropping by 3.8 per cent to an average of 2.75 tonnes per hectare in March.

“As a result of these events, US agricultural production has been significantly reduced, particularly during the last quarter of the year,” USDA said in a statement.US Agriculture Secretary Sonny Perdue said the ban was not related to the severe drought in the Dakotas.

“This ban is not tied to the extreme weather events that have affected the Dakota this year,” he said.

“It is related to a number of factors, including our long-term strategy to promote food security and feed our growing population, including increasing crop yields in drought situations.”

The drought is impacting our agriculture, and it is a real issue for us.”US farmers were able to save up to 70 per cent of their grain during the drought because of the restrictions on imported wheat, but some have since seen grain prices fall, making them more vulnerable to the market.

The US Department of Homeland Security is also ramping up food inspections of farmers and their equipment.

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