(KAIT) - In Arkansas, soybeans are the largest crop, covering over three million acres more than rice, corn, sorghum, and wheat combined.
That’s why many say they’re concerned over the Chinese tariffs and bad weather.
The burdens placed on the farmers financially could ruin their business.
New data shows farmer bankruptcies occurring across the South and the upper Midwest.
Richard Fotenot, a farmer, said he’s planted 1,700 acres of soybeans on his farm, and he’s expected to lose around $300,000 this year alone.
“It’s been really hard emotionally, it’s like an emotional roller coaster,” Fotenot said.
Another problem is that right now, farmers can’t access the Trump administration’s aid to ease the tariff impact, because farmers aren’t eligible for the money if the crop is still in the ground.