Gregg Doud, who is the chief agriculture negotiator for the U.S., was part of a Farm Foundation Forum in Washington, D.C. Doud said nearly 40 percent of the global corn supply can be found in China. Over half of the world’s residual supply of wheat and 22 percent of the soybeans are also controlled by China. Doud says the U.S. has gone through a similar situation in the past. “In 1986, 60 percent of the corn stocks that we had in this country were controlled by the government. It was an unmitigated disaster which led to decoupling our farm programs years later. That’s the discussion we have to have now with China. That corn has gone out of condition. We know how that movie ends, it’s bad.” Doud emphasized Chinese farm policy impacts farmers throughout the world.
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