The Department of Agriculture’s Economic Research Service (ERS) raised its already record-breaking forecast for U.S. ag export during the 2021 fiscal year.
The agency pushed its forecast for U.S. ag exports to $164 billion, a $7 billion increase from the ERS February forecast of $157 billion, which also would have been a record-setting amount, AgriPulse reported. The U.S. exported some $135.7 billion worth of ag commodities in fiscal 2020.
A big factor behind the new increase has been China’s push to substantially increase corn imports.
Due to “record...