The ag has revised up its forecast for US agricultural exports in FY2019 by $500m to $144.5bn, due to increased wheat and horticultural product exports, despite anticipated export declines in soyabeans, livestock and dairy products. It also increased its forecast for wheat export this year by $1.4bn to $7.1bn, due to higher volumes and reduced competition. As a result of the trade dispute, exports to China are expected to drop by $7bn, due to the loss in soyabean sales, making Canada the largest export market, while China drops to fifth place. Meanwhile, imports are forecast to grow $3bn to $124.5bn.
The USDA has revised up its forecast for US agricultural exports in FY2019 by $500m to $144.5bn, due to increased wheat and horticultural product exports, despite anticipated export declines in soyabeans, livestock and dairy products. It also increased its forecast for wheat export this year by $1.4bn to $7.1bn, due to higher volumes and reduced competition. As a result of the trade dispute, exports to China are expected to drop by $7bn, due to the loss in soyabean sales, making Canada the largest export market, while China drops to fifth place. Meanwhile, imports are forecast to grow $3bn to $124.5bn.