The USDA’s latest export projection is an improvement from the February forecast.
“Now we’re a little bit above Fiscal Year 2017,” said USDA Chief Economist Rob Johansson. The new forecast is $142.5 billion. That’s $3 billion more than February’s outlook and $2 billion more than last year.
“We’re seeing a little bit higher prices for some of our commodities,” said Johansson, in comments provided by the USDA. “We did have a pretty good year last year for production and so both of those are going to contribute to slightly higher export sales than we were predicting earlier.”
South American drought and trucking issues also contribute to the projection boost, according to Johansson.
Continue reading U.S. farm export projections grow at Brownfield Ag News.
