U.S. farm exports to set a record, but not as big as expected (Successful Farming)

Successful Farming published an article stating that China is buying less in U.S. crops and livestock than expected, particularly soybeans, and America’s ag exports are feeling the pinch. Sales are forecast at a record $175.5 billion this fiscal year, said the USDA on Tuesday, but just like the record set last year, the crest was not as high as it looked in the summer. “I think China buys what it needs,” said Joseph Glauber of the IFPRI think tank. “To understand China imports you need to look at their balance sheets and what is going on with the animal sector. Unfortunately, the answer isn’t always crystal clear because of the lack of quality data on production, consumption, and above all, stocks.”