TOPEKA, Kan. (KSNT) – The coronavirus outbreak has hit the stock market hard and is now affecting cattle and grain markets in Kansas.
Just before the outbreak, local agriculture producers were hoping to see growth with phase one of a new trade deal with China. Now shipping goods like soybeans, wheat and corn is taking nearly twice as long to reach China thanks to the virus.
Local ag advisors said this downward trend will end, they just don’t know how long it will last.
“Obviously China, the population is eating, same as here in the U.S., but the markets are funny,” said Eric Osterhaus of Paragon Ag Advisors. “They don’t always trade the fundamentals and emotion takes a big part in many cases.”
Advisors are talking with farmers on a case-by-case basis to decide when might be the best time to sell their goods.