USDA has revised most 2010 export figures upward and forecasts ag exports will rise $5.5 billion in the 2011 fiscal year, to $113 billion. Greater grain and feed shipments and stronger corn and wheat prices lead the way: up $4.3 billion from 2010’s $27.2 billion value. Expectations for sharply reduced competition from Russia, Kazakhstan and Ukraine and higher prices mean U.S. wheat exports may total $8.1 billion this year. Higher corn prices and an additional 2 million tons (52 mmt), plus increases in distillers’ dried grains also provide a substantial boost.
Cotton exports are forecast at $6 billion, up $1.2 billion from 2010’s $4.8 billion.
USDA forecasts fiscal 2011 livestock, poultry and dairy exports will rise $600 million from 2010’s $21.2 billion. Greater pork volume will carry its value to $4.5 billion; beef exports will be unchanged at $3.2 billion on strong Asian demand; and poultry is forecast at nearly $5 billion. Dairy exports may drop $200 million to $2.9 billion due to increased competition from Oceania and an expected price decline.