>> Eric: THIS WEEK, THE TRUMP ADMINISTRATION ANNOUNCED A TRADE DEAL WITH CHINA TO RESUME BUYING SOYBEANS.

12 MILLION METRIC TONS WILL BE PURCHASED BY JANUARY, AND 25 MILLIO METRIC TONS FOR THREE YEARS AT LEAST.

BUT SOME SAY THE DAMAGE FROM TARIFF WARS MAY NOT BE REVERSIBLE.

REPORTER KAOMI LEE WENT TO CLAY COUNTY TO FIND OUT MORE.

>> YOU GOT YOUR SOYBEAN IN HERE.

>> FARMER RAY JOHNSON OF GLYNDON SHOWS ME A FEW OF HIS SOYBEANS THAT HAVE BEEN CAUGHT UP IN A GLOBAL TRADE WAR.

>> PRICES ARE DEPRESSED, THEY HAVE BEEN DEPRESSED.

COMMODITIES HAVE NOT BEEN, THE REVENUE PRICES FOR COMMODITIES HAVE NOT BEEN RISING WITH INPUT COSTS.

INPUT COSTS HAVE SOARED.

>> 6-YEAR-OLD JOHNSON IS A FIRST-GENERATION FARMER.

HE AND HIS WIFE AND TWO SONS FARM WHEAT, CORN, SUGAR BEETS, AND SOYBEANS NEAR MOORHEAD.

THEY RENT THEIR FARMLAND AND HAVE 4,000 ACRES OF SOYBEANS.

IT MAKES UP ABOUT A THIRD OF THEIR INCOME.

>> THE ONLY REASON THAT SOME OF THE FARMS HAVE BEEN ABLE TO KEEP UP IS BECAUSE OF HIGHER YIELDS.

IT'S NOT BECAUSE OF PRICES.

WE NEED THE PRICES TO GET SUSTAINABLE FOR AGRICULTURE TO CONTINUE.

>> BUT MORE SUPPLY IMPACTS PRICES TOO.

SOYBEAN FUTURES PRICES HAVE BEEN IN STEADY DECLINE OVER THE PAST SEVERAL YEARS.

MORE THAN HALF OF U.S.

SOYBEAN EXPERTS GO TO CHINA.

IT'S THE NUMBER ONE GLOBAL BUYER OF SOYBEANS.

FARMERS IN NORTHERN MINNESOTA DEPEND ON THAT MARKET.

THIS WEEK NEWS BROKE THAT CHINA BOUGHT THREE CARGO LOADS OF U.S.

SOYBEANS.

UNTIL THEN NOT A SINGLE BEAN.

>> HAD YOU ASKED ME A MONTH AGO WILL THEY STORE ALL THE SOYBEANS, I WOULD EXPRESSED DOUBT THAT WE COULD.

WE DID, AND IT PUT THEM AWAY AND THEY'RE WAITING FOR BETTER PRICES.

>> ASSID IS A GRAIN MARKET ECONOMIST, HE SAID FINDING STORAGE FOR THE BEANS WAS A HUGE RELIEF.

BUT IT COULD CREATE ANOTHER PROBLEM.

FARMERS ARE HARVESTING CORN NEXT AND THERE IS NOWHERE TO STORE RECORD YIELDS.

>> WE ARE ON A PACE TO EXPORT NEARLY 3 BILLION BUSHELS OF CORN IN THIS CROP YEAR MARKETING YEAR, SEPTEMBER TO AUGUST, WHICH IS NCREDIBLE.

WHEN WE HAVE REALLY BIG YIELDS, REALLY BIG CROPS THAT CAN OFTEN LEAD TO MORE DEPRESSED PRICES.

AND WE SAY IN AGRICULTURE WHAT'S GOOD CAN BE BAD AND WHAT'S BAD CAN BE GOOD IN TERMS OF IMPACT ON PRICES.

>> THIS WEEK PRESIDENT TRUMP ANNOUNCED A TRADE AGREEMENT WITH CHINA.

IT CAN'T COME SOON ENOUGH.

MIKE SKOW IS A FOURTH GENERATION FARMER IN NORTHERN MINNESOTA.

HE GROWS SOYBEANS, CORN AND SPRING WHEAT.

HE SAYS HE'S ALREADY LIVED THROUGH ONE FARM CRISIS.

>> WE'VE LOST SO MUCH WITH THE MARKET PRICE BECAUSE OF TRADE WARS.

GLOBALLY OUR CREDIBILITY ISN'T WHAT IT WAS BEFORE.

SO THERE'S JUST SO MANY THINGS THAT ARE BEING A FACTOR IN THE MARKETS, LIKE THERE ALWAYS IS, BUT THIS TIME IT'S REALLY DIFFERENT AND IT'S REALLY REAL.

>> SKOWE WOULDN'T SAY HOW HE VOTED IN THE LAST ELECTION.

HE SAID HE'S DISAPPOINTED UT ISN'T SURPRISED, SINCE PRESIDENT TRUMP CAMPAIGNED ON TARIFFS.

>> NOT EVERYONE REALLY UNDERSTOOD WHAT IT REALLY MEANT.

BUT THEY THOUGHT, WELL, OKAY, YOU KNOW, WHATEVER.

BUT WE KNEW ON THE FARM THAT THIS TARIFF AND TRADE WAR STUFF DOES OT WORK OUT FOR US.

>> CHINA SAYS IT WILL RESUME SOYBEAN PURCHASES BUT ENFORCEMENT MIGHT BE ANOTHER STORY.

>> AS YOU SIGN PAPERS AND AGREEMENTS, NOTHING, YOU KNOW, THEY SAID THEY'RE MAKING FRAMEWORK DEALS ON VARIOUS ONES, BUT THERE'S NO DETAILS AND IT'S STILL YOU CAN AVE AN AGREEMENT SIGNED BUT LOSING OUR TRUST AS A RELIABLE TRADING PARTNER IS GOING TO HAUNT US FOR A LONG TIME AND THERE'S NO GUARANTEES IF THEY SIGN AGREEMENTS THAT THEY'LL HONOR THEIR COMMITMENTS.

>> A FARMER SUBSIDY COULD BE COMING.

MINNESOTA FARMERS UNION PRESIDENT GARRY WORDISH SAYS FARMER WOULD RATHER HAVE TRADE THAN AID.

>> IT'S NOT FAIR TO THE TAXPAYER TO HAVE TO FUND A BAILOUT TO FARMERS WHEN IT'S BEEN SELF-IMPOSED BY THE ADMINISTRATION'S LEVEL OF TARIFFS.

>> FARMERS HAVEN'T HAD A FARM BILL SINCE 2018.

IT EXPIRED IN 2023 AND HAS BEEN EXTENDED TWICE.

THE PROGRAMS ARE AGAIN SET TO EXPIRE AT YEAR'S END.

>> IF YOU THINK COVID WAS A LONG TIME AGO, THE FARM BILL WAS EVEN FURTHER AGO THAN THAT.

>> DAN GLESSING IS A FIFTH GENERATION FARMER IN WRIGHT COUPLE.

HE'S ALSO PRESIDENT OF THE MINNESOTA FARM BUREAU.

HE SAYS SOME OF THE FARM BILL CAME THROUGH THE RECONCILIATION.

>> WHAT ISN'T DONE S THE POLICY ASPECTS SUCH AS YEAR-ROUND E15, IMPROVEMENTS TO DAIRY POLICY, SOLUTIONS TO INTERSTATE COMMERCE THAT WE'VE SEEN POP UP OVER THE LAST COUPLE OF YEARS AND SO REALLY THE APPETITE TO GET THIS FARM BILL DONE IS GETTING MORE AND MORE.

>> RAY JOHNSON IS PROUD OF THE FARM HE AND HIS WIFE BUILT.

THEY WANT TO PASS IT ONTO THEIR SONS, HE SAYS IT'S SOMETIMES HARD TO ENCOURAGE THEM.

>> WE WANT TO, YOU KNOW, HAVE GENERATIONS AFTER US STILL WANT TO FARM, AND WE NEED TO GIVE THEM A REASON TO DO THAT.

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