The U.S. Department of Agriculture released a revised export forecast for the remainder of 2016 as well as a forecast for 2017. Both reports show U.S. ag export have begun to rally and should be able to keep up with the record-setting pace that first began in 2009. Total exports for the fiscal year 2017 are projected to be $133 billion, which is $6 billion higher than the previous forecast and would be the sixth highest total on record. The U.S. ag trade surplus is projected to rise to $19.5 billion, which is 40% higher than 2016. Commodities like U.S. oilseeds, horticultural goods, cotton, livestock, dairy, and poultry are expected to lead the way to higher export numbers. Global beef demand is also projected to strengthen as well. China is expected to overtake Canada as the top destination for American agricultural products. USDA also revised the fiscal year 2016 export numbers to $127 billion, $2.5 billion higher than the previous forecast.
Welcome
