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
Logistics remain firm, but freight costs continue to rise.
Strong corn demand and cotton shipments support export outlook.
New research shows that most farmers do not have a formal resiliency plan in place. Devin Fuhrman highlights how Nationwide’s Farm Risk Ready initiative supports farmers in building stronger, more resilient operations.
The American Coalition for Ethanol reacts as the Farm Bill heads to a full House vote — while ethanol expansion, including year-round E15, is left out — as well as the USDA’s pursuit of global markets for ethanol.
Mexican livestock officials are emphasizing surveillance and inspection systems to preserve access to the U.S. cattle export market. Texas’ Bovina Feeders explains the rising stakes as the border stays closed.
Weak crop margins and tariff uncertainty are delaying machinery purchases and signaling slower capital investment across U.S. agriculture.
