U.S. ag exports in fiscal year (FY) 2023 are projected at $190.0 billion, down $3.5 billion from USDA’s August forecast. This decrease was primarily driven by reductions in soybeans, cotton and corn exports that are partially offset by gains in beef, poultry and wheat. U.S. ag imports in FY 2023 are now forecast at $199.0 billion, up $2.0 billion from USDA’s August forecast, largely driven by higher imports of horticultural products, sugar and tropical products, and grain and feed products. That would imply ag trade red ink of $9.0 billion in FY 2023 compared to a deficit of $3.5 billion forecast in August and down sharply from last year’s $2.4 billion surplus.
USDA Cuts FY 2023 Ag Exports, Raises Imports
U.S. ag exports in fiscal year (FY) 2023 are projected at $190.0 billion, down $3.5 billion from USDA’s August forecast.
(AgWeb)
Related Stories
Adjusting for inflation, the average size of farm operating loans during 2025 was 30% larger than the prior year.
While producers were aggressive sellers of soybeans last fall, they remained reluctant to move corn or wheat.
China has resumed its purchases of Canadian canola, an early sign of a revival in the trade
Read Next
“I’m just a farmer in their way,” says Georgia producer Jeff Melin. “Force me to sell, take my land, and fly in the billionaires and big companies.”
