Gateway NAMA kicked off the new year with “Implications for Agribusiness with an Updated Outlook of the U.S. Economy” on January 9 at the Sherton Westport Plaza in St. Louis. Over 60 people attended this meeting that was held in conjunction with the St. Louis AgriBusiness Club.
Terry Barr, Chief Economist for the National Council of Farmer Cooperatives (NCFC) and Vice President of the Cooperative Business Center in the NCFC was the presenter for the event. Barr spoke about the outlook for the U.S. and global economy and the implications for agriculture and agribusiness.
Included in his talk were factors shaping the rapid structural transformation of the U.S. and global food, fiber as well as agriculture business systems and the implications for farm policy, agriculture trade policy and rural infrastructure. Barr made a lot of forecasts that included potential doubling of ethanol production within 4 years and a doubling of how much corn is being used to make ethanol.