Imports and Exports
From the election to world trade, as well as geopolitical factors that have the potential to shape agriculture in 2024, the December Ag Economists’ Monthly Monitor shows the possibility of several economic surprises.
The projects are focused on strengthening supply chain reliability, creating workforce development opportunities, speeding up the movement of goods, and improving the safety, reliability and resilience of ports.
This fall, Farm Journal’s Chip Flory and Michelle Rook traveled to the Port of Grays Harbor in Washington and the Port of South Louisiana. Here’s what they learned about two very different ports with two important jobs.
The agency says exports picked up steam this year in countries such as Canada, India and Japan and that the new Regional Agricultural Promotion Program will keep the wheels of progress turning in 2024.
Chinese importers bought around 10 cargoes of soybeans, or about 600,000 metric tons, for shipment from Gulf Coast and Pacific Northwest export terminals between December and March.
A delegation from 11 ag industry groups gathered in Beijing on Thursday to meet Chinese counterparts amid growing U.S. efforts to bolster farm trade even as political ties between their two countries remain strained.
While ag economists continue to be at odds when it comes to the likelihood of a recession in the U.S., some doubt the country’s biggest importers will be able to avoid a recession over the next 18 months.
Mizzou’s Ben Brown says the 81.2 million bushels new crop export sale marks the largest week of sales for the 2023/24 marketing year to date and double the previous record weekly volume for the year set last week.
USDA on Thursday lowered expectations for both ag exports and imports in FY 2023. The export decline is linked to corn and wheat, while the import decline is correlated with easing prices.
As the two leaders of the ProFarmer Crop Tour converge, the eastern route and western route tell two very different stories—Chip Flory and Brian Grete are watching the markets with new perspective on crop conditions.