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.
Related Stories
China’s soybean buying is shifting hard toward Brazil, leaving U.S. shipments at risk of slowing as South America’s record crop reaches export channels
EU simplification may reduce some paperwork, but U.S. exporters still face costly traceability requirements.
U.S. grain export inspections stayed solid for the week ending May 7, with corn still leading the export pace and soybeans posting a strong weekly rebound.
U.S. beef imports are running at a record pace while exports are falling, reflecting tight domestic cattle supplies and high U.S. beef prices.
Cattle analysts say the U.S. beef cattle herd rebuild still faces major hurdles despite some minor positive signals noted in certain regions.
Andy Tauer from the National Pork Board discusses efforts to boost pork demand and how the industry is responding to trade restrictions related to pseudorabies.
