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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Dr. Derrell Peel says long-term price relief will depend more on rebuilding the U.S. cattle herd than increasing imports.
Industry leaders say producers could still benefit even with many operations already using reduced-tax off-road diesel.
For producers, the next proof will be actual export sales, shipment pace, and buyer breakdowns.
Ethanol production climbed to a four-week high while inventories fell to their lowest level since early October, according to energy data analyzed by the RFA.
The latest Meat Demand Monitor shows strong retail demand for beef products like ribeye steaks and ground beef.
Corey Rosenbusch, President & CEO of The Fertilizer Institute, discusses fertilizer markets transparency efforts and the steps to ensure long-term stability for farmers and the ag economy.
