Watching the Global Macro Economy and Trends

This week I’m in Las Vegas for the Potato Expo where they are expecting a record attendance. At yesterday’s Potato Business Summit John Deere Global Economics Team Manager Elizabeth Conzo-Kershner shared what ag producers should be watching as far as global trends.
Conzo-Kershner: “Really what it boils down to is what consumption is going to look like — so how many people there are and what they’re going eat — not just how much but what the composition of that is. So understanding what is happening in developing markets is probably of notable importance. Certainly in the short-term that means the weather because there is going to be volatility. As far as other drivers, we what to be sure that we look at policies as they are impacting agriculture around the world and the adoption of technology. How that both can help us increase yields long-term, particularly in those developing markets again but also how that can help our producers become more efficient.”
She says that producers should be paying attention to trends and fundamentals on a global basis — not just locally or even nationally.
Conzo-Kershner: “I think that the simple thing is to make sure that we don’t make decisions in a vacuum — not only in the vacuum of our own operation and this applies regardless of whether or not you are in the input sector or a grower. It is making sure we look at everything in a global context and we’re looking across the commodity groups as we make decisions.”