Barr said the world’s emerging markets will continue to look to the U.S. for farm commodities. China and India will account for 70% of the world’s increase in the middle class through 2030, and the strength of those economies will dictate much of the export strength of the U.S., he said. Because of recent strength in grain prices, Barr said U.S. specialty crop producers won’t likely see much acreage moving out of crops like corn and soybeans and into fruits and vegetables.
Cash Receipts: US crops ($billions)
Year Fruits and nuts Vegetables and melons
2009 19.3 20.5
2010 21.8 20.1
2011 24.2 20.9
2012(f) 25.4 20.3
2013(f) 23.6 20.6