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 be a smaller percentage.
“But our export volumes won’t fall, they’ll grow more modestly,” says Meyer. “I do think we are introducing competition from the South Americans in a number of different ways. First, over time, you’ve seen the size of the soybean crop grow and we’ve almost established a just-in-time delivery system with the South Americans when it comes to soybeans.
