The USDA’s chief economist says U.S. soybeans and corn continue to face a lot of competition on the global market, mostly from Brazil. But, Seth Meyer tells Brownfield, “I think one of the bright spots has been that domestic demand has held up pretty well for soybean crush in the United States.”
“The Chinese are now taking Brazilian corn,” he says. “We’ve got brand new competition in one of the big destinations for corn and that’s providing us a real challenge.”
And Meyer says that could lead to a shift in acreage this spring.
