Financial Times writer Gregory Meyer reported yesterday that, “If trade has fallen into disrepute this US election season, no one bothered to tell the grain market.
Ships laden with millions of tonnes of US-grown wheat, corn and soyabeans have been leaving ports for destinations across the globe. Soyabean exports have been heavy enough to propel economic growth in the third quarter.
“For US farmers it is a welcome change from year ago, when the effects of a strong dollar and ample supplies elsewhere trapped some crops inside the country. Since the US consistently grows more food than it needs, exports are a crucial outlet.”
Graph From The Financial Times
The FT article explained that, “The exports come at an ugly time for US agriculture. Grain prices are depressed and farm income is the lowest since the global financial crisis. “
