AgroNomics vision Presentations
Appraisal Professional of the Year Award went to Steve Runyan, ARA, [left] and was presented by Terry Kestner, ARA, RPRA, of Rabobank.
LOOKING LONG TERM
Kohl countered the positive with comments about how a “crash or bubble” in national economics and land prices has occurred every 30 to 50 years. He quoted the old saying that “the first generation makes it, the second generation holds it and the third generation loses it.”
Although Sumner focused mostly on Asia in his presentation, his “bottom line” long-range projections and comments appeared to hold truth for dealing with most, or all, emerging and developing nations having trading relations with the U.S. He provided the following thoughts:
“Growth fundamentals mean strong demand for U.S. farm products derived mainly by income growth [of emerging and developing nations] as the new middle class emerges and wants to consume what we sell.
“Animal products and the feeds for those animals have continued growth prospects, and the U.S. has a strong comparative advantage [to other countries].
“High quality fruits, vegetables and tree nuts also meet the profile of food that will have growing demand as incomes rise above the most dire poverty.
“We should hope that productivity growth continues to allow the poor to continue to eat better and spend smaller shares [of money] on food as has been true for most of the past 70 years. Then, so long as U.S. productivity growth does not lag, agriculture here is poised to benefit.”
- Sign-up begins for USDA disaster assistance programs
- Grain futures lagged the other ag markets Wednesday
- Pacific Coast Terminals and K+S Potash Canada sign agreement
- Soy, cotton futures led the ag markets Wednesday morning
- Monthly fertilizer prices: Comparing 2014 through 2009
- USDA releases April water supply forecast for the West
- Commentary: Blame anti-GMO groups for deaths
- Julie Borlaug says biotech is necessary in fight against hunger
- Climate change will reduce crop yields sooner than we thought
- What does “sustainable” food and agriculture really mean?
- Ohio bill to require certification to apply fertilizer
- Carbon-dioxide hurts nitrogen assimilation by plants