Lower US dollar index is increasing US export competitiveness
A senior director with the Indiana Soybean Alliance and Indiana Corn Marketing Council says there will likely be more US export sales because of the weakened dollar.
Ed Ebert is the director of grain production and utilization.
“One of the macros that is kind of in our favor right now is what’s going on with the dollar index,” he says. “As it goes lower it makes our products, in relative terms, more competitive on the global marketplace.”
He says it has also led to more trade with China.
“China is looking at least initially to go ahead and start working toward the phase one agreement,” he says. “In addition, China has also been purchasing a lot of corn here in the US, which again has been a very positive development for price in terms of what’s happening on the farm.”
Ebert made these comments during a recent webinar by Indiana Corn Growers Association and Indiana Soybean Alliance.