Ag exports down

A foreboding forecast 2025 could be tough for ag exports and incomes. Exports have gone down, not up, in 2023 and four. Are things likely to improve in 25? We'll take a look. Speaker3: We're facing export competition and weak Chinese demand. Speaker2: And some other export challenges as well. This from the Agriculture Department's chief economist, Seth Meyer. Just the other day, USDA released its first official trade forecast for the 2025 fiscal year that starts in October. Speaker3: What this report indicates is a decline of $4 billion to $169.5 billion for exports, an increase of $8 billion on imports to a total of $212 billion for fiscal year 25, which means a rising trade deficit of $42.5 billion forecast for fiscal year 25, up from a revised $30.5 billion trade deficit the prior year. That's about 35% increase in the trade deficit. Speaker2: So why are U.S. ag export sales values down so much? Speaker3: A lot of this is tied to falling commodity prices and the world getting much more comfortable with where supplies of corn, beans, wheat, cotton all are relative to where we were at perhaps between 2020 and 2023.