2024 could be challenging for U.S. farm exports
When it comes to selling crops, the American Farm Bureau says demand from key export markets is not looking great for 2024.
“Unfortunately, I think fiscal year ’24 is probably going to be a little bit challenging for U.S. farm exports. As we’ve seen the U.S. dollar continues to fluctuate, but stay high, it makes our products price above our competitors. And then it makes, of course, imports cheaper,” says Veronica Nigh.
Despite an excellent product coming from American fields, the Farm Bureau says it is still not enough to overcome a strong dollar. Couple that with low levels along inland waterways, increased transportation costs, and a lapse in the Farm Bill, Nigh says finding new markets will be challenging.