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
Mexico has fallen behind by several hundred thousand acre-feet in required water deliveries to the United States, a shortfall that has had devastating consequences across the Rio Grande Valley.
Purdue University Professor of Agricultural Economics Dr. Jim Mintert shares a closer look at farmer sentiment and the key issues shaping the agricultural economy in January.
Stronger U.S.-Guatemala trade rules favor dependable, regionally integrated supply chains — rewarding execution and commitment over cost-only sourcing.
China-led demand continues to anchor soybean and sorghum exports despite weekly swings.
Global pork production is expected to rise in the first half of 2026, despite trade volatility stemming from shifting import policies and swine disease pressures.
Economists are also closely watching how policy decisions in Washington could influence markets moving forward. Analysts say deferred futures for corn, soybeans, and wheat suggest markets are operating near break-even levels, not at prices that would encourage expanded production.
