Publication

This paper assesses the international soybean market and how the race to capture new international markets has impacted U.S. farmers and rural communities. First, the continual overproduction of soybeans in the U.S. – and the subsequent erosion of price -- is documented. Second, expert projections are used to forecast world soybean production in 2020. Third, the potential to develop new markets for the forecasted increases in production is critiqued. Finally, the paper concludes with a recommendation that the governments of the U.S., Brazil, and Argentina abandon this unwinnable strategy of competing for new soybean markets and use a cooperative approach.