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International Agricultural Trade Report

Record U.S. FY 2022 Agricultural Exports to China

U.S. agricultural exports to China in fiscal year (FY) 2022 were $36.4 billion and surpassed the previous year’s record with China as the largest export market for the second consecutive year. Significantly higher agricultural prices and resilient demand helped drive exports above the previous year’s record despite lower volumes for most products.
International Agricultural Trade Report

U.S. Beef Exports to East Asia on Record Pace

U.S. beef exports to East Asia in 2022 are again on record pace after a record year in 2021. Despite economic uncertainties due to the COVID-19 pandemic, continued global supply chain challenges, and a competitive global beef market, U.S. beef exports to East Asia, both in value and volume, were outstanding in the first half of 2022.
A number of factors have converged over the last 18 months to send global agricultural commodity prices to near-record levels. Russia’s invasion of Ukraine – and the potential loss of Ukrainian exports – was the latest development to push commodity prices higher.
International Agricultural Trade Report

Banner Year for U.S. Beef Exports in 2021

As countries roll back COVID-19 restrictions, foreign market demand for beef is becoming a bright spot for U.S. producers.
In the first quarter of 2021, U.S. soybean exports reached the second-highest value ever at $7.7 billion, nearly double the same period last year.
International Agricultural Trade Report

Foreign Demand Fuels U.S. Corn and Sorghum Exports

Strong foreign demand and reduced competition have sharply boosted exports to record levels for U.S. corn in 2020/21.
International Agricultural Trade Report

China’s Rising Bakery Sector

China’s bakery sector has been expanding rapidly in recent years, underpinned by the country’s rising middle class, ongoing Westernization of lifestyles and diets, and increasing demand.
International Agricultural Trade Report

China: Evolving Demand in the World’s Largest Agricultural Import Market

While trade tensions and China’s retaliatory tariffs slashed U.S. agricultural exports to China in 2018 and 2019,
The significant rise of dog- and cat-owning households in East Asia presents an opportunity to increase the U.S. exports of pet food.
International Agricultural Trade Report

U.S. Sorghum Prices Rally with China’s Return to the Market

China’s announcement of tariff exclusions following the Phase One agreement had an immediate impact on U.S. sorghum exports mainly because of the sheer volume China purchases and its effect on prices.
International Agricultural Trade Report

Vietnam: Surprising Strength in Cotton Spinning Benefits U.S. Exports

Vietnam’s demand for raw cotton has risen steadily for six years, with August-to-January (Marketing YTD) imports at their highest levels ever.
International Agricultural Trade Report

Cranberries: No Longer Just an American Tradition

American cranberry farmers are in the homestretch of the harvest season in what looks to be another banner year for U.S. cranberry production.