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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Higher input costs are making flexible marketing plans and updated break-even targets more important.
Rail rulings, export terminal access, and equipment rules are becoming bigger factors in grain shipping costs and reliability.
Higher ocean freight rates can add export cost pressure even when grain demand remains active.
Weekly export movement stayed solid, with corn and sorghum continuing to show the strongest overall pace.
California almond acreage tightens while pistachios shift into an off-year, shaping a mixed outlook for prices and supply in the tree nut market.
March cold storage data showed generally tighter year-over-year stock levels across several key meat and dairy categories.
