Agricultural Digest
As we noted in the last edition of the Digest, American soybean farmers are struggling big-time, especially in light of the trade war with China (our largest export market for soybeans) and the increasing productivity of farmers in Argentina and Brazil. But, the Soybean Innovation Lab at the University of Illinois Urbana-Champaign recently published a series of articles in Successful Farming that provide a possible alternative for the future: Africa. Africa is becoming more like, well, us. As prosperity increases, and the world also shrinks, demand for imported food is growing. From 2010 to the present, food imports rose 32 percent relative to food production, and that trend looks likely to continue. When it comes to soybeans, in particular, the future looks bright. While the dominant imported oil of choice in Africa is still palm oil (and by a significant margin), these agro-economists believe that soy can capture a large market share over time. From 2010, soybean grain demand has …