Analysts are looking for signals of global food security challenges as a result of the war in Ukraine.
Former USDA Chief Economist Joe Glauber was in the Department during the President Obama years and the Arab spring. It was a time of food security concerns, but he says this time feels a lot different. Now, he says, nations are considering how important export commodities might be.
“Because, in some cases, actually higher grain prices are gonna help farmers within that country, and we’ve seen that certainly in prior episodes like 2010/11 or 2007/08. We actually saw, some areas, farm income actually going up, then the price of the development world.”
He says in the past, the U.S. dollar was weak when commodity prices were high, but right now, the dollar is strong overseas even with increasing farm good prices.
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