U.S. Grains Council President Thomas Dorr told attendees at Commodity Classic that the U.S. needs to prepare to handle a variety of emerging market systems in developing economies with rapidly growing middle classes. Dorr noted – systems will vary country by country, but they will have one similarity. Emerging markets will be unable to build food systems on the U.S. system model. They will create new product marketing systems likely very different than our legacy markets.

At the same time, Roy Bardole, U.S. Soybean Export Council chairman, said – a growing population demands a growing protein supply; a growing income demands a growing animal protein supply. Bardole noted that – in addition to standard grain and soybean markets, Vietnam’s aquaculture production will be important for our soybeans farmers. Vietnam plans to increase the volume and value of its aquaculture production in the next years, and likely provide soybean meal as feed.

Bardole also noted that – while these emerging economies will provide opportunities for U.S. exports, managing U.S. infrastructure and port systems may be a challenge. He said – the three-million dollar Panama Canal expansion makes it vital for the United States to increase its port capacities. Dorr called the Panama Canal expansion – a great thing. But it will cut our throats if we don’t fund the Army Corps to build up our ports.