U.S. ag export demand is suffering from excess global supplies and a strong U.S. dollar.
CoBank economist Tanner Ehmke says there is a surplus of grain globally.
“You’ve got record crops down in South America, corn and beans. You’ve got record crops in the Black Sea (region) with Russia. And then we have a strong Dollar on top of all that.”
He tells Brownfield domestic demand, especially for soybean oil, has helped support commodity prices.