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<p>Balanced Reporting. Trusted Insights.</p>
Wednesday, April 02, 2025
The Agriculture Department reduced its fiscal 2023 forecast for U.S. ag exports to $190 billion, a $3.5 billion drop from the agency’s last estimate in August, largely reflecting weaker expectations for soybean sales.
Farmers and ranchers who bought crop insurance across the Plains and West are finding that it’s going to make a big difference to their bottom lines due to the drought that plagued the region through the growing season.
Farmers across the country are largely ahead of schedule at getting their crops out of the field as fall and its chillier temperatures descent on farm country.
The Agriculture Department, along with major agribusiness firms and foundations, are joining with U.S. cotton growers in a series of efforts aimed at filling a growing global demand for textiles that can be produced with a much smaller environmental footprint.
The Biden administration is pouring $2.8 billion, far more than originally planned, into a series of pilot projects aimed at developing markets for climate-smart commodities in every state and across a wide range of commodities and farm types. Another $700 million for smaller projects will be awarded later.
The USDA Tuesday raised its forecast for ag exports in fiscal year 2022 to $196 billion, but the department also predicted the value of overseas shipments will fall in FY 2023.
Drought in the American West, Southwest and Central Plains hit farmers and ranchers hard last year, buta new survey from the American Farm Bureau Federationshows the situation has worsened this year as more producers are abandoning scorched crops, destroying orchard trees and paying for livestock feed.
Texas farmers are facing a drought that will all but eliminate the hopes of many for a good cotton crop in 2022 as attention turns to topsoil conservation measures that producers hope will allow them to try again next year.
