After the summer of 2011 growth expectations were reset to lower. There is expected to be slow growth in the US, Canada, and Europe due to high crude oil prices, and the US recession. Asia is expected to have an increase of 6.1% for GDP, with China leading with 9%  expected GDP growth. Crop prices have been rising, and a series of poor crop yields has increased the demand without increasing the supply. Crop supplies are expected to increase 6%, especially from sources outside the US. Feed grain supply is expected to catch up with demand, and likely decrease feed costs. As for pork, China and Korea are expected to increase production, which will lower import demand for these countries. Overall export rates are expected to stay nearly where they are, only modest expansion is expected for North America.