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
Soy Transportation Coalition’s Mike Steenhoek discusses the proposed six-axle truck pilot program and its potential impacts on agriculture and freight transportation.
Dr. Derrell Peel says the longer the border remains closed to Mexican cattle imports, the more likely some industry changes could become permanent.
USDA will elevate its “Plant Not Plastic” initiative and promote American cotton over synthetic fibers.
The investigation does not prove wrongdoing, but it raises federal scrutiny of a major cost center for crop producers.
Farm Bureau economist Dr. Faith Parum says agriculture still needs to see U.S. products actively moving into China.
Richard Gupton says reliable roads, bridges and rail systems remain essential for ag retailers and the broader farm supply chain.
