U.S. agriculture exports are going to be stronger than first expected in fiscal year 2021 and should eclipse 2020, according to a new USDA forecast that raised sales estimates for soybeans, sorghum, corn and wheat.
The quick pace of U.S. soybean and corn sales – particularly to China - is one of the biggest factors behind a new USDA forecast that shows U.S. ag exports rising to $140.5 billion in fiscal year 2021, which starts Oct. 1.
August is shaping up to be a good month for U.S. sorghum sales to China. The latest data out of USDA’s Foreign Agricultural Service shows Chinese companies contracted to buy 696,300 metric tons of the grain in the first week of the month.
An upcoming run-off election in one of the nation’s largest agricultural districts has produced a confrontation, with Texas’ colorful and controversial ag commissioner, Sid Miller, and President Donald Trump on one side, and major state and national farm groups on the other.
Amid all the uncertainty farmers are facing this spring, they're now getting hit by a drop in crop insurance price guarantees. In response, Agriculture Secretary Sonny Perdue briefly raised the possibility USDA could allow producers to increase coverage.