U.S Ag Exports Expected To Be Higher

In February, the USDA forecast a decline in U.S. agricultural exports for the 2018 fiscal year at $139.5 billion.  USDA Chief Economist Rob Johanson said the new forecast $142.5 billion, is $3 billion higher than what they expected just a few months ago, and $2 billion higher than this time last year.

"We're seeing a little higher prices for some of our commodities, we did have a pretty good year last year for production, so, both of those are going to contribute to slightly higher export sales than we were predicting earlier."

Johanson added drought and trucking problems in South America are also benefiting those U.S. Ag trade numbers.  However, he says this forecast is still a little uncertain because of all the trade action going on right now.  He said with the U.S. imposing tariffs on steel and aluminum from some countries, several nations have put out lists of U-S Ag products that will be targeted with tariffs, which he says would amount to $3.4 billion in retaliation against U.S. Agriculture.

If you have a story idea for the Washington Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekradio.com