What’s in it for me?
It's easy for the U.S. farmer to read a lot about ag-related events occurring around the worked and think of how if could impact his farm. The world production of corn and soybeans is taking on a new look. For instance, for the first time in over a decade, Brazil will produce more corn than soybeans in 2012. It has been believed that Europe would grow the world's wheat crop, South America would grow the world's soybean crop, and the U.S. would raise the world's corn crop. That doesn't seem to be the case, as many more countries ramp up corn production.
Initially, the U.S. farmer can expect increased competition in the world export market. But there are other factors to consider, as well. With some U.S. users contemplating sourcing corn needs from other countries, the ethanol industry using less corn, and feed use falling, the corn market is facing a change of landscape. Make no mistake, the U.S. corn "store" is still the biggest in the world, but other countries are adding to their production abilities.