Actually we are net exporters in cotton, beans, wheat, corn so the significant force is not added competition but increased external demand for those products. Now it is true that the decline in the value of the dollar increases that demand but the dollar’s decline is more because of extraordinarily low interest rates here rather than the increased money supply. That might not remain true for long, however,
In periods of true inflation housing prices rapidly escalate. Look at the 70s for an example.
“the dollar’s decline is more because of extraordinarily low interest rates here rather than the increased money supply”
Say what? What do you think lowering the rate of interest does, besides increase the money (or, more precisely, credit) supply?