By Dave Russell and Matt Reese
The world is watching as coronavirus sweeps around the globe and limits commerce at every level of society. The issue, and its impact on the agricultural economy and global trade, was certainly a topic of discussion with the Ohio Farm Bureau members on the recent County Presidents’ Trip to Washington, D.C.
“We’re dealing with a new kind of demand destruction with the coronavirus. We found yet another headwind for U.S. agriculture this year,” said John Newton, chief economist with American Farm Bureau. “The elephant in the room is China and Phase One and what has happened to that elephant with the coronavirus. Globally the supply chain is going to slow. This could have a long tail and we’ll have to continue to keep an eye on it.”
After a general downturn in the agricultural economy and an extended trade war, the impact of the coronavirus could have lasting effects for farms. … Continue readingRead More »