Posted on September 16, 2014 at 8:00 AM by Iowa Corn
Economic Research Service (ERS) reports:
Fiscal 2015 U.S. agricultural exports are projected at $144.5 billion, down $8 billion from the record $152.5 billion forecast for fiscal 2014, primarily because of the outlook for lower commodity prices.
Lower prices are projected to reduce fiscal 2015 exports of oilseeds and products by $5.1 billion and cotton by $600 million, while lower prices and volumes reduce grain and feed exports by $4.9 billion, compared with fiscal 2014.
Horticultural exports are, however, projected to rise $2.9 billion to a record $37.0 billion in fiscal 2015, eclipsing exports of grains and feeds for the first time.
Agricultural exports to China are forecast down $3.0 billion from fiscal 2014, but China is expected to remain the top U.S. agricultural market.
Exports to Russia are projected to decline by $800 million to $400 million in fiscal 2015 as a result of trade restrictions against the United States.
U.S. agricultural imports are forecast at a record $117 billion in fiscal 2015, $7.5 billion higher than in fiscal 2014, with the largest gains in horticultural products, sugar and tropical products, and livestock products.
Find these data and additional analysis in the Outlook for U.S. Agricultural Trade: August 2014.
As reported by AgriMarketing