Wheat farmers in the U.S. are now faced with low market values and tariffs. Are you interested in where you can get a business cash advance for your business? This article is about wheat farmers’ current challenges and reliable business funding options.
U.S. Wheat Farmers: Get a Business Cash Advance
This year, the U.S. farm economy is coping with some challenges like never before in recent years. These challenges are caused by trade problems, climate change, depressed commodity prices, as well as decreased immigrant labor.
Net farm income has dropped to 50% since 2013, thus making up $70 billion from $140 billion. Farm debt has witnessed a steady increase of nearly 30% since the early 1990s.
Let’s look at, e.g., Japan. Here, it took the wheat industry 60 years to develop a relationship with the Japanese millers and bakers. Today, there’s a trade agreement called “the Comprehensive and Progressive Agreement for Trans-Pacific Partnership” between several countries. These include Australia, Canada, Chile, Japan, and Mexico.
U.S. farmers don’t lose their hope concerning a new trade agreement with Japan. One of the farmers notes that once you lose a market like the Japanese market or you lose your market share, getting back can be rather challenging.
In fact, farmers in the U.S. have recently been feeling the pressure of tariffs on materials required for production. In 2018, new tariffs were imposed on steel and aluminum coming to the U.S. from foreign countries, except for Canada and Mexico.
With all this in mind, it’s crucial to work with a reliable and experienced merchant services provider that can help you overcome current challenges and reach more success in your business.
Consider turning to First American Merchant, a reputable alternative online lender and payment processor that specializes in the high-risk space. FAM is dedicated to helping hard-to-approve merchants get a business cash advance and other business funding solutions without headaches.
Low Market Values & Tariffs for Wheat Farmers in the U.S.
U.S. farmers are faced with low prices and a trade war with China. Besides, they’re now coping with record Midwest rain that’s likely to take away a large portion of this year’s crop. All these troubles have resulted in the worst farm crisis since the 1980s.
The majority of economists note that after the disputes between the U.S. and China get resolved, Chinese customers will go for other soybean-producing countries. One of the farmers in the U.S. says they’ve had both favorable and less favorable years, and this is the way things have been going since the beginning of time.
Farmers are now quite resilient and feel optimistic about the future. As they note, they work hard to adapt to the existing hardships and are focused on efficiency.
To sum up, though wheat farmers in the U.S. are faced with low market values and tariffs, they don’t fall into desperation. Take the time to find the right merchant services provider for your business so to take it to the next level with ease.