It's tough to be a farmer in America these days. The agricultural industry is currently in a five-year slump. US farmers, in particular, have been hit hard as countries like Russia and Brazil have boosted production in recent years. The trade war with China, a strong dollar, and an outbreak of swine flu in China have killed any enthusiasm in the industry. Years of record harvests from excellent growing conditions have created a long-lasting supply glut. Farmers are under financial pressure as corn and soybean prices have stayed depressed and bankruptcies have spiked.
Soybean