Are U.S. Farmers Winning or Losing When it Comes to Global Trade?

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Are U.S. Farmers Winning or Losing When it Comes to Global Trade?

AGRICULTURAL FINANCE

Are U.S. Farmers Winning or Losing When it Comes to Global Trade?

Jul. 16, 2020

Global trade enhances opportunities to export agricultural commodities from all levels of the supply chain and complements robust domestic markets. Notwithstanding short-term disruptions, we expect based on long-run trends that U.S. farmers will remain well positioned to capitalize on a growing global middle-class appetite and commensurate growth in agricultural trade and feed. Indeed, planes, trains, automobiles, and boats collectively have shipped about 20% of U.S. agricultural production abroad annually since 2000.1 Historically and presently, global trade has direct implications for the success of U.S. agriculture and the value of farmland used in production. The composition of exports continues to shift, though, scattering opportunities and challenges disproportionately among agriculture sectors.

1 Exports expand the market for U.S. agricultural products. USDA Economic Research Service. April 11, 2016.

Authors
Blaine Nelson
Associate Director, Agricultural Research & Strategy
Tom Karmel
Associate Director, Agricultural Research & Strategy