Agriculture Secretary Sonny Perdue is telling a congressional hearing this week the farm economy is in a fragile state. During his testimony to the House Agriculture Committee, Perdue laid out his perspective on the state of the ag industry, including major issues and unknowns lingering on the horizon. Chinese leaders are doing the same in the sorghum market.
During the hearing, Perdue highlighted China launching an anti-dumping probe of U.S. sorghum and its impact on farm country.
“We think the sorghum issue will nullify over a period of time,” said Perdue. “It just shows how fragile and how sensitive the ag economy and commodity prices are now.”
He also gave an update on the North American Free Trade Agreement (NAFTA) and its progress. Perdue says he’s “more hopeful than he has been” in the past.
“We [have] the Mexican elections coming up,” said Perdue. “We have one more round which I believe, in my opinion, will be extended. When we get the Mexican politics out of the way, I think we’ll have a deal by the end of the year.”
AgDay national reporter Betsy Jibben reports on the highlights of the state of the ag economy hearing.