By MIKE HENDERSON, Associated Press LOUISIANA (AP) For more than two years, the Agri-Food and Forestry Association of Louisiana has been warning about a massive soybean crop that’s been wiping out forests.
The crop is so big, it threatens to devastate the state’s forests and other wetlands.
Farmers say it’s forcing them to raise prices, and that’s driving up the cost of their products.
So far, the state has paid out more than $3 billion in crop insurance payments.
But AgriLife is preparing to try to help by buying up the soybean crops.
AgriLife’s plan: buy up a big chunk of Louisiana soybeans that are in high demand.
The company says the purchases could provide the state with $20 million to $30 million a year in crop benefits, which it says could save the state $3 to $4 billion over the next 30 years.
Agreeing to sell would give Agri Life a stake in the soybeans it plans to purchase, said John McManus, a spokesman for AgriLifters.
Agriculture Secretary Bill Johnson has said he wants to see soybeans be planted in Louisiana, which already has a lot of soybeans.
He has called the soy bean crisis “the most severe in the history of the United States.”
AgriLift says it plans the purchase of as many as 10 million acres of soybean.
It also said it is looking to buy up as much as $15 billion in soybeans across the U.S.
The government is still paying out the crop insurance, and AgriLand is still getting paid.
Agri Liferters is the only one that is paying.
Agribusiness is still reeling from the price spike and the destruction of its soybean industry.
The agribusys soybean market is worth about $60 billion, and the industry is worth $8 billion.
Agritourism’s biggest losses were caused by the corn price spike, and soybeans have also been hurt by global demand for rice and other crops.
Agritourist groups like the Agribuserve and the Agritory are trying to offset the damage.
The group has bought up large tracts of land in the U-Haul and Walmart food delivery service areas and is now buying up a huge chunk of the soy crop.
The company says it is the biggest single buyer of soy in Louisiana.
AgroSoy, which is based in Texas, has also bought a lot in Texas and other parts of the U.-S.
Agra said in a statement that the company is pleased to acquire a large swath of soy land in Louisiana to grow its products and is confident the acquisition will benefit our customers and farmers across the state.
“Agricolift has about 10,000 acres of Louisiana land and about 30,000 hectares of soy, according to a company filing.
The sale would give the company control of a lot more land in Texas than it owns now.
Agribolift, based in Illinois, owns about 1.4 million acres in Texas.
Agra’s land in Minnesota and New Mexico is owned by AgriFoods, which also owns land in Oklahoma.
AgrBid said in its filing that it would pay $5.75 per acre for the land.
Agrium and Agritor have not said how much they would pay for the soy.
The Agriba and Agribos companies declined to comment.