U.S. exports dropped $11 billion from 2018 to 2019, but the USDA’s latest export forecast bumped the 2020 exports up by $2 billion from August to $139 billion, reports Brownfield Ag News.
USDA’s Chief Economist Rob Johansson says China is key.
“The forecast of exports to China is higher by $3.5 billion compared to our estimates in August and is now expected to reach nearly $11 billion," he says.
Johansson says that is about $1 billion more than this past fiscal year, which should make up for some projected slower sales to Japan, Korea, Taiwan, Philippines and the EU.
