Dr. David Kohl tells farmers to be prepared for volatility in the agricultural marketplace.
SIOUX CENTER, Iowa (KTIV) -
You might think the drought has made things a little rough for the ag community, but one expert says there's a good reason to be optimistic if you farm.
Dordt College hosted an ag summit Tuesday called "Global Economics and Local Impact." Dr. David Kohl, a well-known agricultural economist was the keynote speaker.
His message to farmers was Iowa is doing well, but be prepared for volatile scenarios. That's because things could change quickly.
The Hawkeye State, as a whole, has been performing well because of demand abroad, from places like China, Brazil, Russia and South Africa who have high demands for food, fiber and fuel.
He says Iowa has plenty of all three.
"This has probably been the best of times that we have seen for agriculture for all of the commodity super cycles, of which we've had four in the past 100 years," said Dr. David Kohl, Professor Emeritus of Agricultural Finance and Small Business Management and Entrepreneurship at Virginia Tech University in Blacksburg, Va.
Kohl says this "supercycle" where demand is higher than normal has lasted ten years. He says other nations have also experienced drought like the Midwest has. But the high export costs keep the money coming in.
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