The Outlook for U.S. Agricultural Trade AES-117 released August 26th 2021, documents exports of agricultural products during the period October through June of fiscal years 2020 and 2021. The report includes projections for fiscal year 2021 and 2022 respectively. Major categories including grains, oilseeds, livestock, poultry and dairy are tabulated as to volume and value.
Broiler meat exports will attain $3.4 billion in value for the fiscal year ending August 2021 but will remain constant at $3.4 billion for the corresponding months ending in August 2022. For both periods the USDA projected a volume of 3.4 million metric tons shipped.
With respect to corn, in August 2021, 72.5 million metric tons were shipped valued at $18.1 billion. For the corresponding month in 2022, USDA predicts exports of 61.0 million metric tons valued at $17.1 billion.
For soybeans, 61.5 million metric tons were shipped in August 2021 valued at $29.0 billion. In August 2022, volume will decline to 55.9 million metric tons, but value will increase to $32.3 billion based on a projected rise in unit value.
In August 2021, agricultural balance of trade will amount to a positive $16.0 billion with exports at $173.5 billion and imports valued at $157.5 billion. The projection for August 2022 shows an increase in the net positive balance of trade to $18.0 billion with exports increasing to $177.5 billion with a disproportionate increase in imports of $159.5 billion. The increased value of exports is attributable to higher livestock, poultry and dairy exports and inclusion of ethanol and manufactured tobacco products consistent with definitions of the World Trade Organization.