U.S. agricultural exports are expected to total $193.5 billion in fiscal 2023, which begins October 1, according to a quarterly report by the Foreign Agricultural Service (FAS) and the Economic Research Service (ERS) of the country's Department of Agriculture (USDA).

The projection represents a fall of US$ 2.5 billion compared to the estimate for fiscal year 2022, which is a record OF US$ 196 billion.

According to the report, the drop should mainly reflect lower exports of cotton, beef and sorb, which should be partially offset by higher shipments of soybeans and vegetables, vegetables and vegetables.

Cotton exports are expected to fall $1.8 billion compared to fiscal 2022 because of dry weather in major growing regions, the USDA said.

Foreign beef sales are expected to decline $1.1 billion, with U.S. supply tightening.

Sorb exports are expected to fall by $700 million to $2 billion.

Total grain exports are expected to decline $1.3 billion to $46.5 billion, according to the report.

In the case of soybeans, it is expected to increase from US$ 2.2 billion, to a record US$ 35.2 billion, with the highest oilseed prices.

U.S. agricultural exports to China are expected to be stable compared to fiscal year 2022 at $36 billion, according to the USDA.

Exports are expected to be $28.5 billion for both Canada and Mexico, also with no variation in the comparison between fiscal years.

In fiscal 2023, agricultural imports are expected to increase $5 billion from the previous year to $197 billion.

The increase should be driven by higher imports of grains, vegetables, vegetables and vegetables, sugar and tropical products, the USDA said.