Record corn and soybean production in South America is changing the global trade dynamic. USDA Chief Economist Seth Meyer tells Brownfield the global export pie is growing and the piece of the pie that belongs to the United States will decline.
“But our export volumes won’t fall, they’ll grow more modestly. I think we are introducing more competition from South America in a number of different ways.”
Meyer says the trade relationships between the U.S., China, and South America are complex.