Over the past several months, we have heard concern surrounding the pace of U.S. commodity exports, especially corn.
Corn export totals for the marketing year have been scaled back several times since the initial estimate and now stand at 1.725 billion bushels for the marketing year.
While exports have in fact been slow for unprocessed corn this year, exports of finished products have been higher.
One of the most talked about is meat exports. The United States has seen elevated demand for its pork in the global market following the outbreak of African swine fever in China. While pork exports to China have been slower than hoped for, other buyers have stepped up and taken more product.
The USDA is currently projecting U.S. beef exports this year of 3.3 billion pounds. In 2019, beef exports totaled 3.02 billion pounds, and in 2018 they totaled 3.16 billion pounds. Pork exports in 2020 are now forecast at 7.1 billion pounds....