U.S. agricultural exports to China are projected to total $13 billion in fiscal year (FY) 2020, up from $10.1 billion in fiscal year 2019. This rise in expected exports is primarily due to growth in Chinese purchases of U.S. soybeans and pork with expected additional purchases of sorghum and cotton also playing a role.
U.S. agricultural exports are projected to total $139.5 billion in fiscal year 2020, while agricultural imports are expected at $132.5 billion, according to the Economic Research Service’s latest outlook for U.S. agricultural trade.
According to a recent report from Reuters, China’s top agriculture consultancy forecasts China will follow through on its promise to purchase more than $40 billion per year of U.S. agricultural products. Others, however, remain skeptical about the estimates.
U.S. agricultural exports are projected to total $134.5 billion in fiscal year (FY) 2019 (October 2018–September 2019), while agricultural imports are expected to total $129.3 billion, according to USDA’s Economic Research Service’s recent Outlook for U.S. Agricultural trade.
While the unpredictability of commodity prices in the past year have given some cause for concern, the fact remains U.S. agricultural fundamentals continue to support the long-term health of the industry.
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