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Michigan's ag community reacts to Trump victory

Farms.com was on the ground asking Michigan farmers their thoughts on the election

By Diego Flammini
Assistant Editor, North American Content
Farms.com

Donald Trump's victory over Hillary Clinton to become the next president of the United States is on the minds of everyone this morning, farmers included.

Especially in Michigan, a state considered up for grabs by both parties that Trump eventually won with 47.6 per cent of the vote; Barack Obama won Michigan in 2012 with 54 per cent of the vote, according to the New York Times.

Farms.com editorial director Paul Nolan and machinery contributor Rachel Gingell were on the ground in Michigan Wednesday to ask local farmers their thoughts on election outcome.



 

"Trump has made some very big promises," Rex Lansing, a custom applicator, told Gingell. "He told us he's going to make America great again. So now we are expecting him to follow through on that."

Trump's victory in rural areas of the U.S doesn't come as a complete shock, as a poll before the election suggested farmers were overwhelmingly backing the Republican candidate.


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Funds Ditch Ag Commodities, Chase Stocks Amid an End to Middle East War, & Trade Deal Buzz

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The 12-day war between Iran-Israel came to an end sending crude oil futures plunging as the big fund speculators removed the war risk premium.

The weather risk premium in the Ag complex is sending corn, wheat and soybean futures lower on month-end selling ahead of the market moving USDA quarterly grain stocks and acreage reports on June 30th.

Instead, funds were chasing and sending tech stocks higher with the S&P 500/NASDAQ indexes setting new all-time record highs!

June 1 USDA Hogs and pigs report was slightly bearish while the U.S. $ Index traded to new contract lows as the de-dollarization that began in 2014 continues.

Feed in the form of soybean meal futures for livestock producers got cheaper, trading to new contract lows.

The Stats Canada seeded acreage update was bullish canola and wheat.