USDA Preparing Updated Trade Forecast

One of the most difficult jobs that analysts at the Agriculture Department have is periodically trying to forecast US agricultural imports and exports.  USDA economist Bart Kenner said developing an accurate forecast is very challenging since so many different things can impact trade.

“Weather and price fluctuations demand.  How much supply there is and the transportation modes of getting products to market.  And of course, there's always, you know, changes in policy that can have an effect from any number of countries that might be involved in a global market.”

Kenner and his colleagues are developing the new trade forecast, which will have a wrap of 2024’s numbers.

“And an updated forecast for what we expect," Kenner said.  "Trade to be in terms of value and also volumes for some categories for fiscal year 2025.”

That updated forecast will be released Tuesday November 26th at noon Pacific.

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