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.
Related Stories
Rising global supplies may cap soybean price strength, while sorghum prices hinge heavily on China’s export demand.
Weak soybean sales and soft wheat demand contrast with solid corn export strength.
AFBF Economist Dr. Faith Parum break down new survey findings on fertilizer affordability and producer sentiment heading into the 2026 growing season.
David Fisher with the American Lamb Board joined us to discuss a new sustainability program designed to boost producer profitability while supporting stewardship practices.
Trade disputes can quickly reduce demand for key crops.
