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The State of U.S. Agriculture (2024)

| May 7, 2024

| May 7, 2024

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Corn stocks, poultry flocks, and highly-pathogenic avian influenza – what does the U.S. agricultural system look like amid inflation and other headwinds? Wells Fargo Chief Agricultural Economist Dr. Michael Swanson discussed specialty crops, grain plantings, and what to expect in the growing year to come.

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More About Dr. Michael J. Swanson:
Michael Swanson is an agricultural economist and consultant for Wells Fargo, the largest commercial agricultural lender in the U.S. since 1997. Based in Minneapolis, his responsibilities include analyzing the impact of energy on agriculture and strategic analysis for key agricultural commodities and livestock sectors.  His focus includes the systems analysis of consumer food demand and its linkage to agribusiness.  Additionally, he helps develop credit and risk strategies for Wells Fargo’s customers, and performs macroeconomic and international analysis on agricultural production and agribusiness.

Michael joined Wells Fargo in 2000 as a senior economist.  He received his undergraduate degrees in Business Administration and Economics from the University of St. Thomas in St. Paul, MN.  He received his Master’s and Ph.D. degrees in Applied Economics from the University of Minnesota.

Prior to working at Wells Fargo, he worked for four years at Land O’ Lakes, a large national dairy cooperative based in Minnesota.  Before working in the dairy processing business, Michael lived in South America for four years working for Cargill.  His first position was with the Burlington Northern Santa Fe railroad as transportation systems analyst.

More About Wells Fargo:

Wells Fargo has been the nation’s leading agricultural lender among commercial banks for 25 consecutive years, according to Top 100 Farm Lenders (FDIC – 4Q 2020). Wells brings farm-to-fork expertise to our clients in the agribusiness, food, beverage and hospitality industries with bankers who are passionate and knowledgeable about the industries, provide strategic products designed to mitigate industry-specific risk, and provide a full suite of services for businesses of all sizes.

To learn more about Wells Fargo, please visit:
https://www.wellsfargo.com/com/industry/food-and-agribusiness/

To learn more about Food Institute membership and The Food Institute Report:
https://foodinstitute.com/joinfi/
https://foodinstitute.com/report/