Fiscal year 2019 agricultural exports are projected at $141.5 billion, as grain and feed exports are forecast down $100 million to $33.7 billion.
According to a report at High Plains Journal, oilseeds and products exports are projected at $27.8 billion, down $100 million from November expectations, driven by lower soybean volumes.
The U.S. Department of Agriculture expects U.S. farmers to plant only 85 million acres of soybean acres in 2019, down 4.7%, thanks to falling commodity prices and ballooning stocks amid a trade war with China.
Corn acres are projected to take over most of those lost bean acres and rise 3.3% to 92 million acres this spring.
Read the full report here.
