When we look at the global economy, there is plenty to be concerned with. What are consumers going to spend money on? Where are they going to cut back? There?s a lot to weigh in uncertain times.
We may see things like cars, consumer electronics, and even home sales dwindle in an economic slowdown. However, the one thing we have to remember is that no matter how challenging things get, we still need food and fuel. U.S. soybeans more than provide products that fill those needs around the globe.
Jim Sutter is with the U.S. Soybean Export Council (USSEC) and he talks about what we saw come out of the end of the 2022 fiscal year and the beginning of FY 2023. He talks about the record values our soybean exports brought in this past year.
Sutter explains how currency has become the fourth challenging ?c? of the export economy.
That list of countries and regions is also the same list we have been following in just the past couple of years as the economies that were growing and developing a very fledgling middle class that wanted better food items. Sutter talks about the challenges these uncertainties can have on a developing economy.
We will continue our discussion with Jim Sutter about the state of soybean exports.
