7am News, Sports and Obits
Latest WGIL news
Click to play or
Right click and "Save Target As" to download
Click for Galesburg, Illinois Forecast
Home - Cancellations - Community Events - Contact Us - Mornings - News - Obituaries - Pictures - Programs - Special Events Audio - Sports - Weather
Japan Troubles Could Lead to Ag Market Downturn in U.S.
As Japan reels from the devastation due to a massive earth quake and tsunami, the U.S. is still reeling from an economic downturn in the last few years.

Grant Strom, a member of the Knox County Farm Bureau, tells WGIL the disaster in Japan will have further effects on the U.S. agricultural markets.

"Japan, they import over 15 million metric tons of U.S. corn which doubles the next closest country, Mexico, so it's a huge deal especially where the ports have been damaged over there."

Strom adds that the decreased in imports could last for some time while Japan recovers.

"In terms of our economic woes, we're not going to be able to send them some of the corn because their ports are down, they're predicting a 10 to 15 percent drop in imports, not just for corn but for other commodities as well. Corn tends to affect us here locally in the agriculture market."

Strom was invited to speak this week with the Galesburg Area Chamber of Commerce for National Agriculture Week.
03 17 11 by Newsroom
News management powered by Xpression News

Click here for the WGIL News Archive

Click here for national news

The following provision applies to all visitors (which shall include persons and representatives of legal entities, whether such representatives are persons or digital engines of a kind that crawls, indexes, scrapes, copies, stores or transmits digital content). By accessing this Web site or digital service, you specifically acknowledge and agree that: (i) Associated Press text, photo, graphic, audio and/or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium; (ii) No Associated Press materials nor any portion thereof may be stored in a computer except for personal and non-commercial use; (iii) The Associated Press will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing; (iv) The Associated Press is an intended third party beneficiary of these terms and conditions and it may exercise all rights and remedies available to it; and (v) The Associated Press reserves the right to audit possible unauthorized commercial use of AP materials or any portion thereof at any time.