USDA Updates U.S. Ag Export Forecast Amid NAFTA Worries

In fiscal year 2017, U.S. agricultural exports totaled $140.5 billion, representing the third-highest level on record.  In its quarterly export forecast in August, USDA indicated that fiscal year 2018 agricultural exports were projected at $139.0 billion.  However, in its latest quarterly forecast, released late last month, USDA increased the fiscal year 2018 export projection by $1.0 billion.  Today's update examines the latest export forecast in more detail, and looks briefly at recent NAFTA news items pertaining to agriculture, including a report from the Nebraska Farm Bureau.
Read This News Summary

A Focus on Corn Belt Ag Exports; NAFTA Update

A FarmPolicyNews update last week pointed to recent USDA information pertaining to the aggregate value of U.S. agricultural exports, and how these trade flows have changed over the past two decades.  A recent article from Iowa State University looked more narrowly at recent trade trends pertaining to four specific agricultural sectors: beef, pork, corn, and soybeans.  Today’s summary looks at these issues in more detail, along with a brief update on the NAFTA renegotiations.
Read This News Summary

U.S. Ag Exports Remain Strong, But Global Share Declines as Destinations Have Changed (NAFTA, China)

U.S. agricultural exports in fiscal year 2017 increased over $10 billion to the third-highest level on record.  Although the U.S. remains the second largest exporter of agricultural goods in the world, the share of U.S. agricultural exports has fallen from 23 percent of global value in 1995 to 12.5 percent in 2013.  Nonetheless, U.S. agricultural exports to NAFTA countries and to China have increased since 1995, highlighting the importance of these regions to U.S. agricultural trade.  Today's update looks at these issues in more detail, along with a brief update on the NAFTA renegotiations.
Read This News Summary

USDA- ERS: Opportunities for U.S. Ethanol Exports

A report earlier this month from USDA's Economic Research Service (ERS) ("Global Ethanol Mandates: Opportunities for U.S. Exports of Ethanol and DDGS," by Jayson Beckman and Getachew Nigatu) noted that, "The increased use of ethanol globally could provide strong and diverse export market opportunities for U.S. ethanol and ethanol byproducts."  Parts of the ERS report are highlighted in this update.
Read This News Summary

NAFTA Renegotiation Talks Extended– U.S. Dairy Proposal Rejected

Ana Swanson reported on Tuesday at The New York Times Online that, "Until Tuesday, the North American Free Trade Agreement looked like it might be headed for a quick demise. Now, it could be headed for a slow, painful one. The United States, Canada and Mexico said on Tuesday that they would extend Nafta negotiations into next year, with the parties citing 'significant conceptual gaps' in how to rewrite the 1994 trade pact."
Read This News Summary

USDA-FAS Report: China’s Meat and Poultry Import Forecast, 2018

On Thursday, the U.S. Department of Agriculture's Foreign Agricultural Service (FAS)  released its biannual "Livestock and Poultry: World Markets and Trade" report, which is published in April and October, and is "designed to give a snapshot of the current situation among the major players in world beef, pork, and broiler meat trade." Today's update provides a recap of some of the highlights from the FAS report, which was titled, "China’s Meat and Poultry Import Forecast 2018: Decline and Constrained Growth."
Read This News Summary