U.S. permanent cropland producers have faced many headwinds over the past few years, including retaliatory tariffs, supply-chain bottlenecks, drought, elevated inflation, and a historically strong US dollar. However, some of these challenges are starting to subside. We are happy to see the relative strength of the U.S. dollar moderating and making U.S. agriculture exports more competitive on the global market as evidenced by the chart below.

Line graph showing levels of dollar from April 2022 to January 2023. Source: Bloomberg.
Line graph showing levels of dollar from April 2022 to January 2023. Source: Bloomberg.