U.S. Farm Output: It's Export Dependent
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U.S. farm output, from the 1930s until 1981, increased steadily,
but growth stopped in the 1980s. Now, after 9 years of volatility,
total farm output is less than it was in 1981. The largest decline
occurred in the production of grains and oil crops such as soybeans.
This stagnation of the 1980s is not a production capacity
problem, however. The U.S. could produce a lot more. Instead, a
fall in export demand accounts for the stagnation of production.