This outlook report offers, on a quarterly basis, the U.S. agricultural import and export outlook, as well as the year-to-date value and volume of U.S. agricultural exports and imports, by commodity and region.
Fiscal 2013 agricultural exports are forecast at a record $145 billion, up $1.5 billion from the August forecast and $9.2 billion above fiscal 2012 exports. Grain and feed exports are forecast down $1.9 billion mostly due to lower corn exports. Oilseed exports are up $3.3 billion on much higher volumes and record prices. Cotton exports are forecast down $200 million in part due to reduced Chinese demand. Horticultural exports are unchanged at a record $32 billion. The forecast for livestock, poultry and dairy is down $100 million on lower poultry, beef, and cattle exports.
U.S. imports are projected at a record $115 billion in fiscal 2013, up 11 percent from 2012’s imports of $103.4 billion, but down $2 billion from the August forecast for 2013. The reduced forecast for 2013 is largely due to significantly lower prices for tropical oils, processed fruits and vegetables, sugar, coffee, rubber, and cocoa.
The forecast trade balance for fiscal 2013 shows a surplus of $30 billion, down $2.4 billion from 2012.
