[fullwidth background_color=”” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” border_size=”0px” border_color=”” border_style=”” padding_top=”20″ padding_bottom=”20″ padding_left=”0″ padding_right=”0″ hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=””][title size=”1″ content_align=”left” style_type=”underline solid” sep_color=”#000000″ margin_top=”” margin_bottom=”” class=”” id=””]USDA reduces its fiscal 2015 forecast for agricultural exports[/title][fusion_text]Monday, June 1st 2015
USDA reduced its fiscal 2015 forecast for agricultural exports to $140.5 billion and cut its estimate of imports to $117 billion, which would still be the highest ever. The new export number is down $1 billion from the February forecast and down $12 billion from fiscal 2014. If realized, this would be the lowest level of exports since fiscal 2012. The forecast for agricultural imports is down $2 billion from February, but still $7.8 billion higher than in fiscal 2014. The U.S. agricultural trade surplus is forecast at $23.5 billion, down from $43.3 billion in fiscal 2014.The agency said most of the decline in exports can be attributed to horticultural products, which are down $1 billion from the February forecast with slower-than-expected shipments of fresh and processed fruits and vegetables among other products. The forecast for livestock, poultry and dairy exports was lowered $500 million on smaller shipments of dairy due to strong global competition and reduced poultry sales due to greater trade restrictions. Estimated exports of oilseed and oilseed products were raised $100 million as higher soybean meal values more than offset lower soybean prices. “Strong early season sales and current commitments support record soybean and soybean meal export volume,” the report notes. The grain and feed export forecast was raised $600 million, with record shipments of sorghum and stronger-than-expected exports of feed and fodder, including distiller’s dried grains with solubles (DDGS). Fiscal 2015 wheat exports were forecast at $6.1 billion, a decrease of $300 million, mainly due to lower volumes. The cotton forecast was unchanged.
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