LOUISVILLE, Ky. — Fiscal Year 2018 agricultural exports are projected at $140.0 billion, up $1.0 billion from the August forecast, largely due to expected increases in corn and distiller’s dried grains with solubles (DDGS). Higher corn volumes and unit values and strong demand for DDGS are largely responsible for driving grain and feed exports up $1.0 billion to $29.4 billion. Soybean export volumes continue to set records, raising the soybean forecast $200 million to $24.1 billion, which offsets expected declines in soybean meal and oil. Cotton exports are up $300 million on higher volumes and unit values. Livestock, poultry, and dairy exports are raised $200 million to $29.7 billion, largely due to higher forecasts for beef, poultry, and animal products such as lard and tallow. Horticultural products are unchanged at $34.5 billion.
U.S. agricultural imports in fiscal year 2018 are forecast at $117.0 billion, up $1.5 billion from the August forecast, due largely to expected increases in imports of animal products. The U.S. agricultural trade surplus is expected to decline by $500 million to $23.0 billion in fiscal 2018.
Source: USDA ERS, Outlook for U.S. Agricultural Trade report, November 30, 2017.
— USDA NASS Kentucky Field Office
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