Strong dollar dampens demand for U.S. farm exports
1983
Longmire, James | Morey, Art
Extract: With the dollar's rise in value against other currencies in 1981-83, U.S. farm exports declined and Government stocks rose. Conversely, the 1970's boom in U.S. farm exports was partly fueled by the decline in the value of the U.S. dollar against foreign currencies. A model outlined here helps to assess the effect of changes in the dollar's value, adjusted for inflation, on U.S. exports of wheat, corn, and soybeans. The model estimates that a 20-percent rise in the inflation-adjusted value of the dollar over 2 years will cut U.S. exports of wheat, corn, and soybeans by 16 percent.
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