Crop failures can happen anywhere, so isn't supplier diversity a good thing? All other things being equal, it seems like excluding US exports from the global market would increase exposure to bad weather and make prices more volatile.
In particular, think about the case where US farmers have a good year and many other places have a bad year.
It seems like efficiency and environmental considerations would have us reduce the amount of land devoted to crops as much as possible, but guaranteeing safety of the food supply would mean increasing capacity. So there's a tradeoff here.
In particular, think about the case where US farmers have a good year and many other places have a bad year.
It seems like efficiency and environmental considerations would have us reduce the amount of land devoted to crops as much as possible, but guaranteeing safety of the food supply would mean increasing capacity. So there's a tradeoff here.