AgResource economist Dan Basse is in high demand to provide his economic insights around the world, but he calls Chicago home and has been presenting his annual agricultural report and outlook at the ASTA CSS & Seed Expo 2022 every year since 2012. This last year for the event in Chicago was no exception and once again Basse packed a lot of information into an hour.

While he prefers to share upbeat analyses, Basse says 2023 looks to be a “downer” year for grain markets. “The last couple of years we’ve seen rather bullish agricultural markets … which has lifted corn prices up to seven dollars, soybeans up to 15 and we’ve sat at these prices for quite a while now,” said Busse. “The year ahead doesn’t look quite as pleasing …because of the rising dollar and rising interest rates, the slowing economy globally is not going to be very good for grain demand.”

Basse expects the U.S. will become more of a domestic market for grain. “Our share of world trade is dropping,” said Basse. “We are not as dominant in the world market as we used to be. Back when I first got into the business in 1979, the U.S. export share was 64%. Today we’re down around 12 percent.”

Listen to Basse’s remarks and two interviews with him here below:

2022 ASTA CSS & Seed Expo Photo Album

Find more audio from ASTACSS in the virtual newsroom for the event