Trade outlook improves

The latest USDA forecast on agricultural trade predicts an increase in ag exports and a decline in imports.

The report, “Outlook for U.S. Agricultural Trade,” which was released June 4, projects fiscal 2001 ag exports to reach $53.5 billion, that’s an increase of $500 million above the forecast released in February. In addition, the import forecast has been reduced to $39 billion, down $1 billion from the February report. These combined changes should boost the expected ag export surplus to $14.5 billion – the largest in three years.

The biggest portion of the increase in ag exports comes from “high-value products” such as hides, skins, poultry meat and tree nuts. In addition, soybeans, a bulk commodity, has seen the largest gain in sales volume. Most of the increase in hides and soybeans is expected to go to China.

On the flip side, the forecast for corn, wheat, rice and cotton has been revised down from the February report. This change in part is due to: greater than anticipated competition from China, Brazil and Argentina on corn; abundant supplies of rice in nearly all exporting countries, and a large surplus of cotton stocks. Although soybean exports are up, record crops in Brazil, Argentina and the U.S. will continue to hold prices down.

USDA

1. Heat stress in dairy calves
2. AFBF president issues statement on U.S.-EU trade negotiations
3. Buckle your seatbelt for the House consideration of the farm bill
4. Study: Federal milk marketing order helps Calif. producers
5. Ag markets were generally mixed overnight trading
6. Winterkill losses put pressure on forage supplies

1. Will Smith dethroned in latest Peterson Farm Bros. parody
2. Uncertainty hangs over milk futures market
3. Chobani pushes back against UK Greek yogurt ban
4. Cattle crush Calif. dairy worker
5. Ranching music video goes viral
6. How China may help keep Calif. dairies in business

1. Commentary: Clueless consumers
2. USDA report shows continued adoption of no-till
3. Finding the comedy in ag-gag
4. Expert offers tips to reduce hay-drying time
5. Commentary: Ag must resist HSUS 'divide and conquer' strategy
6. Chobani pushes back against UK Greek yogurt ban