Agriculture leader says the future of the ag economy is bright

Murray Wise, CEO and chairman of the Westchester Group said the global economy and the global agriculture economy is at a very trying time.
"It's hard to know what will happen in the next 18 months. Beyond that U.S. agriculture is a bright spot in the world economy," he said during an Agriculture Issues Forum on Feb. 24, in Grapevine, Texas.
Through the years, the total percent of the population involved in agriculture has dwindled, yet those people are still expected to provide for the entire world.
Wise said changes in the need for grain around the world have led to ending grain stocks not being near as high as in the past.
Currently, the challenge appears to be with the amount of soybean acres that are expected for the coming year.
"If there is a dramatic shift in soybean acres we may have an excess amount of soybeans available and a lack of corn, which will likely lead to problems," he added.
U.S. pork producers have a bright spot in the export markets with dramatic increase in exports to China.
"Even with a poor economy, the Chinese people are not willing to give up their pork. China has 25 percent of the world's population ad eats 50 percent of the world's pork," he said. "They also have almost eight times the amount of pork on feed as the U.S., so they will have a need for feed for those pigs."
Wise said even with all the challenges that farmers face, the agriculture economy for the long term has a bright outlook.