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December 03, 2019 | Brownfield Ag News

USDA Export Prospects for 2020 Up from August

Forecast of exports to China now expected to reach nearly $11B

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.

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