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The Greek impact on U.S. agriculture

Global markets are waiting to see what happens next now that Greek voters have rejected the latest economic bailout package from the European Union.  Jacquie Voeks is a Senior Market Advisor with Stewart Peterson, she says either way, the U.S. dollar is going to go higher.  If don’t get bailed-out, any European doing business in the United States is going to buy dollars to protect the price of their product “because the dollar is gaining against you.”  If they do get bailed out, Voeks says the U.S. Federal Reserve is going to raise interest rates making the dollar stronger.  A stronger dollar makes U.S. products higher-priced on the global market.

Voeks does think Greece could leave the Euro Zone and make it work.  “There will be unhappy people” as she puts it because there may be a run on some of the banks, there will be protests and other difficulties.  But she points out Italy and Spain have agreed to austerity packages so the EU cannot make a better offer to Greece.

Voeks talks about the situation: