U.S. Maintains Ag Trade Surplus

U.S. agricultural exports are doing comparatively well so far this marketing year, according to an industry expert. “We’re at $49.1 billion, which is up about 12 percent ahead of the same time last year,” said Nora Brooks, analyst with the USDA.

In an interview provided by the USDA, Brooks said agricultural trade figures from October through February have the U.S. on track to hit a projected $100 billion for the fiscal year. The hottest seller is soybeans.

“China is still the leading destination,” said Brooks. “The value of soybeans is up 42 percent from a year ago, and volume is up by 33 percent. Wheat is down 22 percent in value, [but] actually up 2 percent in shipments. Corn is down 11 percent in value, although shipments are up by about six percent.”

While overall exports are up, agricultural products coming into the U.S. are down about 4 percent, leaving U.S. agriculture with a trade surplus with the rest of the world of almost $18.5 billion.