A lot has changed in the United States ag trade over the last century. USDA senior economist Sharon Sydow at this year’s ag outlook forum explains where the U.S. ag economy was 100 years ago.
Price volatility, foreclosures, and high land values were all thorns in the side of the ag economy. The first farm bill would not become law until the 1930s, Sydow says ag trade was thought to be a way to help the ag economy through tough times.
This led to a decline in ag exports and was also pointed to as a partial reason for the great depression and the structure of current day farm bills. Another policy response was the Reciprocal Trade Agreements Act (RTAA) of 1934 which was crafted to expand food and farm exports.
That was USDA senior economist Sharon Sydow at this year’s ag outlook forum.
