Dramatic price fluctuations, increasing demand, the food vs. fuel debate, and other events of the past year may have food producers wondering which way is up. Despite these recent uncertainties, 'up' is precisely the direction an Iowa State University researcher believes agriculture is headed for at least the next 10 years.
Wally Huffman, professor in agricultural economics and Charles F. Curtiss Distinguished Professor in Agriculture and Life Sciences, predicts supply will go up, demand will go up, and real prices of grain and oilseeds also will go up.
"I'm very optimistic about the next 10 years," says Huffman.
Huffman presented his research to the Organization for Economic Co-operation and Development in Paris, France, last month. OECD and the Iowa Agricultural Experiment Station supported the research.
An important part of Huffman's “Technology and Innovation in World Agriculture: Prospects for 2010-2019” study was the long-term trend of corn and soybean yields in Iowa, wheat in Kansas and France, rice in Japan and potatoes in the Netherlands. Huffman examined the trends and then made projections about the next decade.
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Source: Iowa State University