In
2016, the US exported about $130 billion worth of agricultural products to
other countries.
We exported $25.4 billion in soybeans, $9.2 billion in
corn, $7.6 billion in nuts, $6.1 billion prepared foods, $6.1 billion fruit,
$5.6 billion pork, $5.1 wheat, $4.6 billion diary, $3.8 billion poultry.
We sold $20 billion to Canada, 19.2 billion to China, 17.7
billion to Mexico, $11.6 billion to the EU, $10.6 billion to Japan.
In 2015, the US exported about $140 billion worth of
agricultural products to other countries. We sold $22.5 billion to China, $21.8
billion to Canada, $18.3 billion to Mexico, $12.1 to the EU, $11.8 to Japan,
$6.4 billion to South Korea and the rest to other countries.
In
2017 and 2018 US Agricultural Exports remained at the same levels. The US tends
to export more agricultural products than it imports. In January 2018, the US
exported $11.4 billion, imported $11.1 billion.
Outlook
for U.S. Agricultural Trade
FY 2018
U.S. Exports Forecast at $139.5 Billion; Imports at $118.5 Billion.
Projections
for U.S. agricultural exports in fiscal 2018 lowered $500 million from the
November forecast, and $1.0 billion below the previous year's exports
U.S.
agricultural imports forecast at $600 million below fiscal 2017, but $1.5
billion above the previous fiscal 2018 projection
Fiscal Year 2018 agricultural exports are projected at $139.5
billion, down $500 million from the November forecast, largely due to a 6-percent
decline in oilseed and product exports that is only partially
offset by increases in livestock, cotton, and
grain, oilseed exports
are forecast down $2.0 billion to $31.1 billion as a result of slower soybean exports,
mostly to China, and strong competition from Brazil.
Livestock, poultry,
and dairy exports are raised $800 million to $30.5 billion, led by higher
forecasts for beef and pork
Cotton is
forecast up $600 million to $5.4 billion on substantially higher unit values.
Grain and
feed exports are forecast up $300 million to $29.7 billion, as gains
for coarse
grains, both corn and sorghum,
more than offset a reduction for wheat.
Expected increases in imports of horticultural and grain
and feed products are largely responsible for the upward
adjustment in the forecast, but higher projected supplies of sugar and
tropical products, and an expected increase in oilseed
product imports also contributed to the change.
In fiscal year 2018, fresh vegetable imports are
expected to be $200 million larger than previously expected, due to larger
volumes. Essential oil imports are expected to reach $3.6 billion
in fiscal year 2018, a $100 million increase from the previous forecast, with
high levels of shipments expected after a strong first quarter.
Imports of grain
and feed products are forecast to grow by $300 million from the
previous forecast to $11.6 billion, due to projected increases in U.S. demand
for processed grain products, as well as for wheat and oats.
Coffee products are
expected to be worth $6.5 billion, due to higher unit values than previously
expected. Natural rubber imports are expected to be $200
million higher than the November report, due to rising projected unit values
and volumes.
Total oilseed and product imports for
fiscal 2018 are expected to increase to $9.0 billion, a $200 million increase
from November, due in part to stronger than expected volumes of vegetable oil shipments.
Comments
In
agricultural States like Georgia, you will find a lot of misplaced concern
about their own agricultural export volumes. I don’t expect Trump’s tariffs
will result in lower US agricultural exports, because these follow their own
rules. The purpose of these exports is to sell food to countries who need
it.
Weather
effects yields and States can usually off-set poor harvests in weather-problem
areas with good harvests in weather-friendly parts of the US. This is a real
supply and demand laboratory and is breathing a sigh of relief with the
roll-back of Obama’s suicidal EPA regulations.
Norb
Leahy, Dunwoody GA Tea Party Leader
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