USDA Lowers 2009 Export Forecast

Avatar for Matt Hopkins By Andrea Klosterman Harris|4 November 2008

Huge wheat supplies from Russia, EU, and the Ukraine are increasing competition in grain markets, says the December 1, 2008 report. Grain and feed exports were lowered from August, and exports are now forecast $10 billion below record 2008 sales.

Soybeans and soybean products were reduced $2.2 billion since August, although China’s demand for soybeans remains strong.

Cotton exports were lowered due to weak consumer demand for textiles.