Higher corn sales have pushed the ag export forecast up by half a billion dollars since November.
These brand new numbers from USDA show that despite the gain, it is still below last year’s levels.
The Department predicts ag exports this year will be around $170 billion, which is up by half a billion since USDA’s November report, but down more than two percent from last year.
Corn exports came in higher than expected after higher volumes and unit values, and ag imports are projected at $220 million this year, a six percent jump over 2024.
Newly confirmed U.S. Trade Rep Jamieson Greer has said he will make enforcement a key tool in his trade agenda, hoping to level the playing field for U.S. producers.
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Export strength is concentrated in corn and wheat, while soybeans and sorghum lag, keeping basis and logistics dynamics highly commodity-specific into late fall.
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With port fees now lifted, economists believe that could help ease tensions. However, American Farm Bureau Federation (AFBF) economist Faith Parum said trade deals with smaller Asian countries are helping stabilize the ag economy.
Stagger buys and diversifies fertilizer sources — watch CBAM, India’s tenders, and Brazil’s import pace to time urea, phosphate, and potash purchases.
