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The trade outlook for 2025
U.S. ag exports were down in 2024 and are projected to decline again in 2025.
Ohio State University professor Ian Sheldon is concerned about the impact of potential tariffs on trade.
“Soybeans, again in particular, would take a pretty big hit,” he says. “If the worst outcome were to happen, the range of tariffs and full retaliation, you’re looking at something like a 60 to 65% reduction in export value in 2025.”
He tells Brownfield it could have a negative impact on export prices.
“I think at a time when margins are tight, there’s no real payouts this year from the farm bill,” he says. “We don’t have a farm bill agreed on yet. The possibility of losing export markets and downward pressure on prices is pretty important.”
Brownfield interviewed Sheldon during the 2024 Ohio State Ag Policy and Outlook Conference in Columbus, Ohio.
AUDIO: Ian Sheldon, Ohio State University
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