September 23, 2025
US soybean farmers issue urgent warning: "Farmageddon" if Trump doesn't help with harvest
Combines are moving through the American Midwest, but for many farmers, this harvest feels more like a crisis than a celebration.
Trade wars, rising costs, labour shortages and high interest rates have converged into what some growers call "farmageddon", a tidal wave of financial and emotional strain threatening one of this country's most vital industries. And with markets closing and storage bins filling fast, they say time is running out.
"It just seems like things have stalled all summer long," Brian Warpup told CNN recently, who grows corn and soybeans on 3,900 acres in northeastern Indiana. "With harvest here, patience may be running thin."
At the centre of the turmoil is China, the world's top soybean buyer. In retaliation for President Donald Trump's new round of tariffs, Beijing has largely stopped buying American soybeans this year, opting instead for supply from Brazil.
That's a crushing blow. Soybeans alone brought in nearly US$25 billion for American farmers last year, according to the Department of Agriculture. Without Chinese demand, crops are piling up in bins and elevators across the Midwest.
Warpup says he's being forced to sell corn earlier than planned just to clear space for soybeans. Other growers face extra fees to store grain at elevators. Ryan Frieders, a corn and soybean farmer in Illinois, put it bluntly: "(It's) like a tidal wave of problems coming toward Illinois."
While incomes sink, expenses climb. Fertiliser, seeds and machinery are all more expensive than just a few years ago. And with interest rates still elevated, financing costs are squeezing farmers' already-thin margins.
The American Farm Bureau Federation reports farm bankruptcies jumped 55% in 2024 and are rising again this year. University of Arkansas economist Ryan Loy says many farmers are "at the end of their rope, not able to meet their financial obligations."
The stress isn't only financial. CDC data shows farmers already face higher suicide rates than the general population, and farm leaders fear the current crisis could make that grim statistic worse.
On the campaign trail and in office, Trump has promised a "golden age of America," with farming singled out. His One Big Beautiful Bill Act includes US$59 billion in new farm supports over the next decade, plus tax breaks for equipment. But farmers say those benefits won't arrive in time for this year's harvest.
Meanwhile, negotiations with China remain murky. Trump acknowledged the problem in a Truth Social post, writing "I hope China will quickly quadruple its soybean orders." Farmers aren't holding their breath.
"This is not your ordinary farm crisis. We call it ‘farmageddon,' and it's really a tough time," said Joe Jennings, CEO of Daitaas Holdings, a farm technology company based in Tennessee.
Congress is under pressure to act before the Farm Bill expires on September 30. Senate Agriculture Chairman John Boozman has said "I know it's significant and as far as I'm concerned… everything's on the table, but lawmakers remain divided on solutions.
Some Republicans have suggested using tariff revenue to fund direct aid to farmers, while Democrats argue the fastest fix is to end the trade war altogether.
"Every single day of the week, I have corn and soybean farmers in my committee office saying (tariffs are) killing us," Minnesota Rep. Angie Craig, the top Democrat on the House agriculture committee said.
Even GOP leaders admit the crisis is becoming impossible to ignore. Earlier in September, Rep. Glenn Thompson, a Pennsylvania Republican and the House agriculture committee chair, said that he could see a future Farm Bill repurposing tariff revenue for farm aid. "I'm advocating that, just a fraction of that money would be invested… in our farmers," Thompson said.
For many in rural America, the frustration runs deep. Chris Gibbs, an Ohio farmer and former Republican county chairman, recalls the billions in bailouts during Trump's first term. He now calls those payments "hush money to keep them sedated."
Farmers "are independent people. They are proud people. And the worst thing that they want to do is to come to the government for a bailout," Gibbs said. "Yet here we are once again."
It's tempting to think of ‘farmageddon' as a rural issue. But the financial strain on farmers has ripple effects that touch consumers across the US.
· Food prices: Supply disruptions and shrinking competition can push grocery costs higher.
· Rural economies: Farm income supports local banks, schools, and small businesses. When it dries up, communities suffer.
· Investments: Trade wars and agricultural losses can create uncertainty in markets that ripple through retirement accounts.
Farmers are facing what they describe as an existential crisis: markets lost, storage maxed out, costs climbing and help slow to arrive. Whether Washington responds with bailouts, new trade deals or nothing at all, the pain on the farm could spread far beyond the fields.
For everyday Americans, the warning is clear: when America's farmers struggle, the heartland trembles—and the shockwaves can reach your dinner table, your community and portfolio.
- Yahoo Finance / CNN
