News

2019 ag exports down along with surplus

The USDA says the ag trade surplus for the first nine months of the 2019 fiscal year is $3.4 billion but down significantly from last year.

USDA trade economist Kamron Daugherty says the ag trade surplus is down 73 percent from 2018.

“We have exports at $103 billion, down 6.9 percent.  We have imports at $99.5 billion, up 2.4 percent. ”

Wheat was the only bulk commodity to see an increase, with Mexico the largest destination.

“We have wheat at $4.7 billion, up 27 percent; corn at $7.5 billion, down seven percent; soybeans at $12.5 billion, down 31 percent; and cotton at $4.8 billion, down 13 percent.”     

Poultry, livestock and dairy exports were also lowered while live animal and rice forecasts were raised.