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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Overall, the report suggests a shift toward more comfortable supply levels, with demand emerging as a key factor to watch in the months ahead.
Global trade uncertainty could impact long-term export opportunities.
