USDA economist watching global grain production
The chief economist at the U.S. Department of Agriculture says global competition for corn and soybean production is being closely monitored.
Seth Meyer tells Brownfield Brazil is forecast to have a record corn and soybean production and planting pace is key.
“If that crop is early, it is more likely to be a better crop and if it is in late, it is more exposed to the end of rainfall for that second crop corn.”
At the same time, the U.S. is harvesting a crop and Meyer says it’s been a difficult growing season for producers.
“There is a lot of variability out there and I think that’s been the real challenge.”
Meyer says it will be interesting to see how competitive the U.S. will stay with South America as the export season picks up.
Brownfield interviewed Meyer at the Ag Outlook Forum in Kansas City.