USDA’s forecast of agriculture exports is showing a little bit of drop from fiscal year 2017 to 2018.
Deputy Chief Economist Warren Preston says the primary cause of a $500 million expected drop is corn.
“We are projecting the value to be down from 2017 at $8.5 billion versus almost $9.7 billion in 2017.”
That drop is caused by lower prices, smaller volume and more competition.
Last week’s export forecast shows $140 billion worth of ag exports which is up $1 billion from the August forecast.