Under those circumstances, U.S. products are more affordable overseas ... and, according to USDA's latest export outlook, that provides positive news for American farm goods.
BEANS AT ELEVATOR
Soybeans and pork are two commodities forecast to do especially well. U.S. soybean export volume has increased because of the drought in Brazil. Dry conditions there drastically have lowered the 2004/2005 soybean crop. This has pushed prices higher and strengthened demand for U.S. soybeans. Brazil's tighter soybean supply also raises American soybean meal and oil export predictions.
Pork exports are predicted to be a record $2.3 billion with gains in volume and unit value. Pork sales to South Korea have risen sharply, and Japanese demand continues to rise. In addition, shipments to Russia, China and Australia are increasing. Lingering bans on beef and poultry by major importers have influenced the improvements in pork exports, as well.