Source: FARM PROGRESS, 9/16/19


Excessive spring rain, trade disputes and African swine fever disrupted agricultural markets in 2019. Economists with the Food and Agricultural Policy Research Institute and the University of Missouri Agricultural Markets and Policy updated the U.S. Baseline Outlook report. Policies in place at that time (Aug. 19), including China’s 25% retaliatory tariff on U.S. soybeans and other farm products, are assumed to remain in place. The update uses 2019 acreage, yield and production estimates included in the USDA’s August 2019 Crop Production report. It assumes slower economic growth in 2019 and 2020, but no recession, FAPRI Director Pat Westhoff says.

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