The United States may be a superpower, but geopolitical events around the world can still significantly impact farmers and ranchers. American Farm Bureau Economist Veronica Nigh uses Russian natural gas as an example. “If the Russians aren’t providing natural gas to the EU and China, those markets aren’t producing the amount of fertilizer they normally would.so what is going on with Russian natural gas is suddenly our problem.” A decision by Mexico’s president to ban biotech corn imports is another event on the world stage that impacts U.S. agriculture. “He’s willing to see the pain in the population to make a political point.” Nigh says 2022 looks to be a good year for agriculture, but these outside influences should be monitored.
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