Ag Exports Expected to Increase

Despite tariffs and trade disruptions, the USDA said they saw an increase in the 2018 export estimate.  USDA is now in its new forecast raising the export projection by $1.5 million dollars from its May forecast, up to $144 billion, which would be $3.8 billion more than 2017.  Part of that due to bad weather in South America, which has cut corn and soy bean meal production there.

The tariffs, though, are showing in reduced soy bean sales.  USDA Chief Economist Rob Johansson said the USDA was already forecasting about a two-billion dollar drop from 2017, down to $21.9 billion dollars.

"We brought it down in August now again to $21.8 Billion"

But, for most products, he said,  "The major affect of the tariffs will be to divert trade from China to other countries."

For the 2019 fiscal year, Johansson is looking for US Ag exports to top this year by another $500 million.

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