Post-Brexit dollar may hurt farm exports
The soaring dollar after the United Kingdom’s vote to leave the European Union may have a big impact on U.S. farm exports, Jerry Gulke, a Chicago based farm analyst, told Agweb, a Farm Journal publication on Friday.
“Everything we sell now to countries overseas just got more expensive to countries that may be looking at recessions,” Gulke said.
“It’s going to make it rough for us in agriculture because we just saw a big impact on Europe, a big market of ours,” he added. “Canada’s currency is probably going to drop because if you don’t have a good economy, you’re not going to use as much oil, so oil price drops further. It just creates a lot of uncertainty out there.”
Agrimoney also cited statements on Brexit’s impact on agriculture from a number of farm leaders.
–The Hagstrom Report
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