Fiscal year 2018 agricultural exports are projected at $142.5 billion, up $3.0 billion from the February forecast, primarily due to expected increases in corn and cotton exports.
Corn is forecast up $1.3 billion to $10.3 billion on both larger volumes and higher unit values, as weather-reduced crop prospects in South America improve U.S. export opportunities into the summer.
Overall grain and feed exports are forecast at $31.2 billion, $1.5 billion higher than the February projection.
Cotton exports are forecast up $800 million to $6.2 billion due to strong foreign demand.
Oilseeds and products are forecast at $31.5 billion, up $400 million from increased trade of soybean products.
U.S. agricultural imports in fiscal year 2018 are forecast at $121.5 billion, up $3.0 billion from the February forecast.
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