National Agri-Marketing Association
NAMA Website
Upcoming Events
Agri-Marketing Conf
Best of NAMA 2018
Member Directory

Source: blog by Keith Good, U of Illinois

To view the complete report, click here.

This week, the USDA's Foreign Agricultural Service (FAS) released its 2020 U.S. Agricultural Export Yearbook, a statistical summary of U.S. agricultural commodity exports. Today's update includes highlights from the report, with a focus on soybeans, corn and pork.

The Yearbook stated that,

Total U.S. agricultural exports in 2020 were nearly $146 billion, up almost 7 percent from 2019, and the second highest level on record (after Calendar Year 2014). The primary factor for this surge in exports was increased shipments of soybeans, corn, and pork to China.

"Soybeans continued to be the United States' No.1 agricultural export, increasing 38 percent to a record $25.7 billion in 2020 and accounting for nearly 18 percent of total U.S. agricultural exports. In 2020, soybean shipments to China accounted for 55 percent of total soybean exports, returning to levels prior to China's imposition of Section 232 and 301 retaliatory tariffs, when China accounted for at least 50 percent of total bean export value since 2009."

2020 United States Agricultural Export Yearbook. USDA- Foreign Agricultural Service (April 5, 2021).

FAS stated that, "Corn exports to the world rose 20 percent to $9.2 billion, led primarily by a $1.1 billion increase in sales to China. Increased competitiveness due to production shortages in Argentina and Ukraine contributed to this sharp increase. Mexico and Japan continued to be the top two markets for U.S. exports, while high domestic prices in China led to the largest value of U.S. exports to China since 2013.

"Pork exports was the other major contributor in 2020, rising by 11 percent. This rise was led by a 75- percent increase in exports to China and a 7-percent increase to Japan, the No. 2 market. Exports to China were buoyed by increased demand for imports following significant reduction of the Chinese herd due to African swine fever (ASF)."

More narrowly with respect soybeans, the Yearbook noted that, "U.S. soybean exports are forecast at record levels for the marketing year ending in August (2020-2021). Soybean shipments are back on trend this MY with large sales being shipped out in late 2020 and early 2021."

2020 United States Agricultural Export Yearbook. USDA- Foreign Agricultural Service (April 5, 2021).

Search News & Articles

Proudly associated with:
American Business Media Canadian Agri-Marketing Association National Agri-Marketing Association
Agricultural Relations Council National Association of Farm Broadcasters American Agricultural Editors' Association Livestock Publications Council
All content © 2021, Henderson Communications LLC. | User Agreement