# U.S. Agricultural Exports Forecast at $172.0 Billion in Fiscal Year 2024 - Farm Policy News

> USDA's Outlook for U.S. Agricultural Trade projects FY2024 exports at $172.0 billion, down $5.5 billion from FY2023. The decline is driven mainly by lower soybean, soybean meal and dairy exports, while grain and feed exports are forecast up $600 million on higher corn and sorghum volumes.

- Date: 2023-09-06 · published 2023-09-06T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/14815-u-s-agricultural-exports-forecast-at-172-0-billion-in-fiscal-year-2024-farm
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower projected US soybean and meal exports point to weaker foreign demand and softer prices, while higher corn and sorghum volumes support those markets.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bullish ▲
- MILK: bearish ▼
- SORGHUM: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-11-30 | [USDA Lowers FY 2023 Forecast for U.S. Agricultural Exports - Farm Policy News](https://feedsoft.ai/events/38741-usda-lowers-fy-2023-forecast-for-u-s-agricultural-exports-farm-policy-news.md) | -0.3% | +3.2% |
| SOY | 2019-03-18 | [USDA Agricultural Projections to 2028- Focus on Corn, Soybeans - Farm Policy News](https://feedsoft.ai/events/60114-usda-agricultural-projections-to-2028-focus-on-corn-soybeans-farm-policy-news.md) | -0.6% | -1.5% |
| SOY | 2022-11-30 | [US cuts billions of dollars off of FY 23 ag export forecast \| 2022-11-29 \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/14889-us-cuts-billions-of-dollars-off-of-fy-23-ag-export-forecast-2022-11-29-agri.md) | -0.3% | +3.2% |
| SOY | 2024-02-29 | [Upper Midwest producers see solid crop yields in 2023 - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/13207-upper-midwest-producers-see-solid-crop-yields-in-2023-agweek-1-source-for.md) | +0.6% | +5.2% |
| SOY | 2024-11-14 | [IBGE forecasts harvest of 311.0 million tonnes for 2025, rise of 5.8% over 2024 \| News Agency](https://feedsoft.ai/events/13534-ibge-forecasts-harvest-of-311-0-million-tonnes-for-2025-rise-of-5-8-over-2024.md) | -1.4% | -0.8% |
| SBM | 2025-01-14 | [IBGE forecasts harvest of 322.6 million tonnes for 2025, a growth of 10.2% over 2024 \| News Agency](https://feedsoft.ai/events/13521-ibge-forecasts-harvest-of-322-6-million-tonnes-for-2025-a-growth-of-10-2-over.md) | -0.9% | -0.4% |
| SBM | 2023-05-23 | [USDA forecasts record-large corn, soy production in 2023 \| Food Business News](https://feedsoft.ai/events/13277-usda-forecasts-record-large-corn-soy-production-in-2023-food-business-news.md) | -2.5% | +0.5% |
| SBM | 2026-08-21 | [Pro Farmer National Forecast: Corn Falls Short of Last Year's Record, But Soybeans Eye New Milestone - AgWeb](https://feedsoft.ai/events/12967-pro-farmer-national-forecast-corn-falls-short-of-last-year-s-record-but.md) | +5.0% | +16.1% |

## Sources

- farmpolicynews.illinois.edu: https://farmpolicynews.illinois.edu/2023/09/u-s-agricultural-exports-forecast-at-172-0-billion-in-fiscal-year-2024/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.