What a Difference a Year Makes

摘要

The slowdown in global grain grow I h is likely temporary. As the 2008 growing season wound down, global corn acres had increased 1%, wheat was up 3%, and total soybean acres had jumped 9%. Both acreage and production numbers painted a clear picture of growing competition for U.S. farmers, as high commodity prices encouraged investors to put their capital and new technology to work around the globe. Since then, plummeting crop prices, high inputs, and a world recession have smudged that clear image.But many of the fundamentals that drove expansion are still in place. The picture isn't as clear, but the competition is still out there.