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Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.
The Federal Reserve Bank of Kansas City puts on an Ag Symposium each year. It was held July 19-20, 2011, in Kansas City and here are some interesting farm export facts that I gleaned from reading their information, which is available online.
The share of U.S. crops that is exported each year:
The U.S. share of total world crop exports:
The share of livestock that is exported:
These percentages are based upon their estimates for 2011-2020.
There is more information that I will share over the next few weeks, but I thought this was informative. For example, only 15% of our corn crop is exported; however, this makes up about 53% of all corn exports throughout the world. Also, almost 40% of soybean exports come from the U.S., with most of the remainder coming from South America.
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