U.S. agricultural exports in fiscal year (FY) 2022 are forecast at a record $191.0 billion, up $7.5 billion from the February forecast, led by increases in corn, cotton, and soybeans, amid the sector dealing with global turmoil and weather disrupting production, according to U.S. Department of Agriculture (USDA).
Corn exports are forecast $2.2 billion higher to $19.1 billion due to record volumes and higher unit values. Overall grain and feed exports are projected $3.8 billion higher at $46.7 billion, with gains across all commodities except rice. Cotton exports are forecast at a record $9.0 billion, up $1 billion from the previous forecast, driven by higher unit values. Soybean exports are projected up $1 billion to a record $32.3 billion as higher volumes more than offset lower unit values. Total oilseed and product exports are forecast $700 million higher to a record $44.3 billion. Overall livestock, poultry, and dairy exports are projected to increase by $1.2 billion to $