USDA Cuts Ag Export Forecast for 2022

The USDA cut its farm exports forecast in 2022, blaming weaker soybean demand from China and lower soybean prices. The Economic Research Service says it now expects American ag exports to hit $175.5 billion in the fiscal year 2022, down from the August forecast of $2 billion. The agency says soybean exports will be down […]

Shipping Container Rates Easing

Container shipping rates are showing signs of easing, at least temporarily. On the Shanghai-to-Los Angeles trade route, the rate for a 40-foot container fell nearly $1,000 last week to $11,173, an 8.2% drop from the prior week. Ocean freight, however, remains more expensive than it was pre-pandemic, and air cargo rates remain elevated. And, according […]

Exports Projected to Reach New High in Fiscal Year 2022

The total value of agriculture exports may reach an all-time high in fiscal year 2022. ERS said higher shipments of major categories of commodities, including grains and feeds, oilseeds, and livestock, poultry, and dairy products, are primarily driving the increase. Total U.S. agricultural export values are projected to reach $177.5 billion in fiscal year 2022, […]

NMPF Calling On Administration To Address Port Backups

The National Milk Producers Federation, alongside nearly 80 other associations in the industry, are looking to the Biden administration to take action to mitigate what many are calling a crisis at the west coast ports. NMPF Vice President of Policy, Jaime Castaneda, said the backups are not hurting only western producers, but dairy farmers across the […]

Port Disruptions Continues To Hurt Agriculture Community

Disruptions continue at U.S. ports. Some of those issues are related to supply chain disruptions associated with the COVID-19 pandemic. Others are related to natural disasters such as recent tropical storm and hurricane activity. “With the special envoy that President Biden has set up to examine the circumstance and situation at the ports,” Agriculture Secretary […]

Grassley Wants Administration to Fill Ag Trade Positions

Iowa Republican Senator Chuck Grassley has called on President Biden to fill a couple of key USDA positions that deal with agricultural trade. He wants “qualified officials” appointed to the positions of Chief Agricultural Negotiator at the Office of the U.S. Trade Representative and Under Secretary for Trade and Foreign Agricultural Affairs. “I write to […]

U.S. Continues To Import A Large Amount of Ag Products

When it comes to the dollar value of food and agricultural products imported into the United States, the USDA has reported a substantial increase. According to USDA Economist, Bart Kenner the month of May was a record one when it came to Ag imports. He added the value of those imports hit $14.5 billion which […]

Meyer Does Not Expect Exports To Slow Anytime Soon

Since August prices for agricultural fees have risen considerably. Normally that reduces demand  and causes a retraction in export sales of Ag products. However, “we haven’t seen them back off the way you might have thought with these rising prices,” noted USDA Chief Economist, Seth Meyer. He said instead, it’s been an interesting time for […]

AFBF: China Is Closing The Phase One Trade Gap

Data shows China is closing the gap towards reaching the goal of purchases in the Phase One trade agreement. American Farm Bureau Federation Economist Veronica Nigh said according to numbers released in April of this year, exports bound for China are around $10 billion, which is roughly 25% of the 2021 goal of $40 billion. […]

Salmonsen: Despite Strong Export Numbers This Is No Time For US Ag To Get Complacent

The USDA is expecting 2021 to be a great year for U.S. Exports, projecting a record $164 billion worth of American exports this year. That’s up $28 billion year-over-year. American Farm Bureau trade adviser Dave Salmonsen said economic recovery from the pandemic and a key trade market, poised to be number one again, are driving […]