Ag Exports Expected To Approach $150 Billion In 2014

Jun 12, 2014

The USDA released its Outlook for U.S. Agricultural Trade report on May 29.

The report projects that fiscal year 2014 agricultural exports will reach $149.5 billion, an estimated $6.9 billion higher than previous estimates and, if realized, a new record for American agricultural exports. The report indicates that the record growth is due not just to rising prices, which have driven export numbers in the past, but also to an increase in the volume of U.S. agricultural exports, which is projected to increase by 31 percent between fiscal years 2013 and 2014.

In fiscal year 2013 agricultural exports reached $140.9 billion and supported nearly one million jobs here at home. Fiscal years 2009 to 2013 represent the strongest five years in history for agricultural trade, with U.S. agricultural product exports totaling $619 billion over those five years.

Agriculture remains one of the few economic sectors with more exports than imports. The U.S. is expected to import $110 billion in agricultural products in 2014, leaving a trade surplus of $39 billion.

Click here to see more...

Video: Did Bears Win Thanksgiving, Will Bulls Get Christmas?

Did the bears win Thanksgiving (although this week had green on the screen), and will the bulls get Christmas? Bears won thanksgiving thanks to a USDA Nov crop report dud that stalled the bullish grain momentum for a brief period. But a bullish lower yield surprise in the Dec crop report could reignite the rally.
2026 U.S. winter wheat planting is nearly complete at 97% while crop conditions improved by 3 points to 48% good-to-excellent. US corn & soybean harvest is complete.
High corn demand, which is off the chart, and more Chinese soybean demand could support a Christmas rally.
Nasdaq had it’s worst November since 2011.
A U.S. Fed rate cut in December will help fund flow and sentiment.
Bitcoin held a long-term support at 80,000 and that's positive for fund flow and sentiment. It should help stock prices and Ag as we go into December.
Fertilizer prices continue to climb as we look ahead to 2026. Farmers may rely more on the nutrients that they already have in their soils.
South American Weather remains critical as the soybean reproductive stage starts from late Nov to late Feb depending on planting date.
Will a Russia-Ukraine peace deal happen by year-end?
CFTC data as of showed more managed money fund sell-off as of October 14th.