VALLEY SPRINGS, S.D. (Dakota News Now) – Recent tariffs imposed by the current administration will likely affect everyone to a certain degree.
South Dakota’s soybean farmers, though, will likely feel the tariffs in a very direct way.
Scott Farm, a 5th generation farm just south of Valley Springs, spoke with Dakota News Now about how they are planning for the future.
A tri-state marker was set in 1859, letting everyone know where the intersection of Iowa, Minnesota, and, back then, Dakota Territory.
The Scott family has deep roots in this land.
“It’s been around for over 100 years,” Jordan Scott said.
Jordan grew up learning of his family’s farming legacy. Now he’s the one making the decisions that affect generations to come.
“Yeah, farming’s a roller coaster. I think every farmer knows that there are ups and downs. We’ve been through this before,” Jordan said.
As a member of the American Soybean Association, Scott attends policy meetings in Washington DC and follows soybean exports.
“Over 60% of soybeans in South Dakota go to China,” Jordan said. “We’re kind of the furthest west soybean growing. So it’s easy to get them to the PNW and then. Overseas that way.”
Jordan believes the high volume traded by the US can also make the commodity a pawn.
“Being the largest export, soybeans are an easy target for retaliatory tariffs,” Jordan explained.
While fewer acres of soybeans are projected to be grown this year, the Scotts are growing more than last year.
“Been through these tariff talks that we actually get some new trade deals out of it with. With chaos comes opportunity, so we’re hoping there are some new trade deals that actually benefit the soybean market, and we come out looking really good on the other side,” Jordan expressed.
The tariffs will also affect producers in other ways, such as machinery, parts, fertilizer, and seed.
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