SOUTHERN JOURNAL OF AGRICULTURAL ECONOMICS JULY, 1986 THE COMPETITIVE POSITION OF SOUTHERN COMMODITIES IN INTERNATIONAL MARKETS: A SYNOPSIS

International markets have been important The paper by Professor Schmitz presents a to Southern agriculture since the 17th cen- revealing portrait of an important aspect of tury. During that early period, the coloni- international trade and competition not com-zation of the South was primarily oriented monly discussed by professional agricultural to the production of such crops as rice, to- economists, i.e., how marketing institutions bacco, forest products, and cotton for export function and perform in the context of in-to Europe (McPherson and Langham). In more ternational commodity marketing (Schmitz). recent times, the South has also been an What we find is a quite complex world of important source of exports of wheat, corn, public traders, private traders, domestic pol-and soybeans. icies, and international policies. In some sit-For the basic commodities (cotton, to- uations, private traders may be the most bacco, peanuts, corn, rice, and wheat), the important actors in carrying out the details domestic farm policies have insulated pro- of international transactions even where trad-ducers from the realities of international mar- ing was initiated between state traders in both kets since the 1930s. However, the South the exporting and importing countries, eg.