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Forces Shaping the U.S. Wheat Economy
The U.S. wheat sector enters the new century facing many challenges, despite a strong domestic market for wheat products. U.S. wheat area is trending down because of declining returns relative to other crops. U.S. share of the world wheat market has eroded for more than two decades, with exports holding fairly steady while global wheat trade increased. U.S. per capita consumption of wheat as food products continues an upward trend, benefiting the U.S. wheat processing industry. Gary Vocke (202) 694-5285; vocke@ers.usda.gov
Forces Shaping the U.S. Wheat Economy, 127 kb
Exporters’ Wheat Stocks Remain Large
Global wheat consumption will outpace production for a third year, causing worldwide stocks to drop 10 percent in 2000/01. But exporters' stocks remain large, and U.S. prices are forecast little changed from a year earlier. The extent of an increase in world wheat trade--forecast to reach its highest level in nearly 10 years--is likely to be crucial for wheat prices in 2000/01. Edward W. Allen (202) 694-5288; ewallen@ers.usda.gov
Exporters' Wheat Stocks Remain Large, 16 kb
U.S. Field Crop Acreage Expands
Planted area for the eight major U.S. field crops totals 254.9 million acres in 2000, up more than 3 million acres from last year when prices were lower for most crops at planting time. Increases in soybean, corn, barley, wheat, and cotton area more than offset declines in sorghum, oats, and rice. Normal weather in the coming months would result in large output and stable or declining farm prices for most U.S. field crops in 2000/2001. Robert A. Skinner (202) 694-5313; rskinner@ers.usda.gov
U.S. Field Crop Acreage Expands, 31 kb
Consolidation in Food Retailing
The U.S. food retailing industry has undergone unprecedented consolidation and structural change in recent years. Large retailers have since 1996 purchased almost 3,500 supermarkets, representing annual grocery store sales of more than $67 billion. The nationwide share of sales for the four largest retailers rose from nearly 16 percent in 1992 to almost 29 percent in 1998. Consolidation is likely to continue, and raises questions about the implications for consumers and food market suppliers. Phil R. Kaufman (202) 694-5376;pkaufman@ers.usda.gov
Consolidation in Food Retailing, 83 kb
Slow Growth Persists for U.S. Meat Exports
Growth in overall U.S. red meat and poultry exports is expected to continue on a slow course this year and flatten in 2001, as increases in pork and broilers are offset by declines in beef and turkey. Sluggish growth in total meat exports in recent years can be traced to a healthy economy in the U.S., where strong domestic demand has bid up prices of meat products. At the same time, buying power of some major importers of red meats and poultry dropped. Leland Southard (202) 694-5187; southard@ers.usda.gov
Slow Growth Persists for U.S. Meat Exports, 34 kb
U.S. Agricultural Imports Head Higher
U.S. imports of agricultural commodities and products are projected to reach $39 billion in fiscal 2000, a 72-percent rise from 1990. This astonishing growth results in part from exceptional U.S. economic expansion. In the last half of the decade, the strong U.S. dollar and sagging economies elsewhere have contributed to the surge in U.S. imports. Continued strong U.S. growth, the dollar’s high purchasing power, and relatively low global commodity prices point toward higher imports in 2001. Alberto Jerardo (202) 694-5323;ajerardo@ers.usda.gov
U.S. Agricultural Imports Head Higher, 16 kb
Genetically Engineered Crops: Has Adoption Reduced Pesticide Use?
Analysis by USDA’s Economic Research Service indicates that adoption of genetically engineered corn, soybeans, and cotton is associated with a decrease in the number of acre-treatments of pesticides (number of acres treated multiplied by number of pesticide treatments). Reduction in volume of active ingredients applied is less consistent, since adoption alters the mix of pesticides used in the cropping system, as well as the amounts used. Ralph E. Heimlich (202) 694-5504;heimlich@ers.usda.gov
Genetically Engineered Crops: Has Adoption Reduced Pesticide Use? , 83 kb |
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