Despite a projected record year for U.S. ag exports, economists believe those gains will not continue into 2023.
Analysts at Aimpoint Research say there are several factors at play, including Brazil’s corn and soybean crops. They say another challenge is the Mississippi River, with meteorologists not expecting a drastic rise until next year. If that is the case, Brazil could take over the soybean market.
Researchers also point to a stronger U.S. Dollar, which makes American ag products more expensive in the global market.
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Cuba remains a steady, nearby buyer of U.S. poultry, pork, dairy, and staples, but legal and compliance risks could still affect shipping and payment channels.
While access to China remains uncertain, U.S. beef exporters are finding resilience and opportunity in other global markets, which could help maintain industry value and expand export opportunities.
