“Most Dangerous Period of Uncertainty”: Local Farmers Brace for 2025 Economy

In 2025, the economy has been a rollercoaster. The United States economy shrank early in the year, bounced back in the spring, before slowing again. Ken McMillan, Retired Monmouth College economics professor and Warren Henderson Farm Bureau Board Member, shares some of the top indicators of this year’s economy, which lie in tariffs, general uncertainty, and chaos.

“Much of our prosperity depends on things that can be loaded on ships and move somewhere else, where there’s a buyer,” says McMillan. “In times of war, in times of tariffs, in times of all this other stress, I would say it’s the most dangerous period of uncertainty I can ever remember- not only for the economy, but it seems to me that agriculture is going to be right in the middle of the impact.”

Just as tariffs have been a place for uncertainty, trade is another area farmers have kept a close eye on. Wendell Shauman, Past U.S. Grains Council Chair, says while this is not a new development for the industry, it does come with more complications.

“Trade China is more of an issue. They just shut us off, and basically, they’re not buying anything from us. That’s a big issue,” says Shauman. “Brazil is an extremely good competitor. They’ve got more good land than we do, they are developing it, their yields are high, and Brazil is one of their main sources of feed, so grain.”

To try to combat the holes in the grain trade, the United States is looking to export more byproducts around the world.