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Ag exports to face several headwinds in ‘23

The U.S. is expected to have a record year for ag export sales, but an economist says that may not continue in 2023.

Chief Economist Gregg Doud with Aimpoint Research says there are several headwinds for next year including Brazil’s corn and soybean crop. “2023 will be really remarkable as we look a year from now in the size and scope of farm production in Brazil.  We think soybean acres will be up 4 percent, but I’m particularly interested to see how much corn Brazil will grow.”

He says another challenge is lower water levels in the Mississippi River.

Ag exports to face several headwinds in ‘23