News

Asia exports strong, except for China

The USDA forecasts strong fiscal 2019 U.S. agriculture exports to all Asian countries except China.  The agency projects China’s imports of U.S. agriculture products to be down $7 billion from the 2018 forecast, but all the rest of Asia is projected to import $3.8 billion more.

Chinese demand for U.S. soybeans is expected to be sharply lower because of China’s retaliatory tariffs.  The tariffs will also curb demand for U.S. sorghum, pork and dairy products.

Globally, U.S. agriculture exports are forecast to total $144.5 billion, a $500 million increase over the fiscal 2018 forecast.