Source: NCDA&CS
 

A new forecast estimates that exports will rise to a record of $164 Billion this year, exceeding the previous estimate in February by $7 billion. The projected total for 2021 jumps up from the 2020 fiscal year by $28 Billion, meaning ag exports will increase 21% from last year. Despite fear that the market would contract during the COVID-19 pandemic, there has been consistent growth and rising prices since August 2020. Currently, demand for US ag exports is growing and will exceed exports to give US ag producers the largest market surplus in six years.

Listen to the Report from Gary Crawford: New USDA Forecast Projects Record Ag Exports