America’s agricultural exports in fiscal year 2024 are projected at $169.5 billion, down $2.5 billion from the August forecast. The drop is primarily from reductions in grain and feed as well as livestock, poultry, and dairy exports.
Wheat exports are forecast down $800 million to $6 billion on lower unit values and ongoing competition from Russia and the EU.
Corn exports are forecast down $500 million to $12.8 billion because of lower unit values as abundant global supplies continue easing prices.
Soybean exports are projected $500 million lower to $26 billion on lower exportable supplies.
Livestock, poultry, and dairy exports are forecast to drop by $1.3 billion to $36.3 billion due to declines across most products.
Beef and pork exports are both projected $300 million lower on tight supplies and lower demand, respectively.
Poultry products and dairy will both drop by $200 million due to lower volumes and decreased price competitiveness.
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