Outlook For U.S. Agricultural Exports

The article provides an overview of the U.S. Agricultural Exports forecast for FY 2022. Grain and feed exports are expected to decrease slightly from the August forecast, with lower values for corn, sorghum, and rice. Wheat exports remain unchanged due to higher unit values, but tight stocks and export competition could affect market dynamics. Oilseed and product exports are also expected to decrease due to lower soybean and soybean meal export values, despite a larger 2021 soybean harvest. Cotton exports are forecast to increase due to higher unit values. Livestock, poultry, and dairy exports are projected to increase, with the exception of pork. Horticultural product exports are expected to remain steady. Ethanol exports are forecast to reach a record $2.9 billion, driven by higher unit values and increased demand for ethanol as other industrial chemicals. However, potential factors such as lower blending rates to reduce inflation could impact demand. The article also discusses the potential impact of international factors such as China's fuel ethanol sales ban and economic recovery in India, Mexico, and the UK on U.S. agricultural export markets.