The USDA is out with Ag trade numbers for the first eight months of the fiscal year; which runs October through May. Total export values this year compared to the last are running essentially neck and neck. Following this horse race closely, Agriculture Trade Economist, Bart Kenner.
“Agricultural exports for fiscal year to date 2020 are $92.3 billion compared to $92.4 billion in 2019 and that’s a change of -0.1%.”
So statistically, the years are very similar, but there are lots of products running in the race.
Some of the leaders after eight months include:
- Dairy products are up 15% year-over-year.
- Red meat is up 11%.
- Poultry exports are roughly 6% higher.
- Soybeans are up 5%.
When it comes to commodities struggling this fiscal year, corn is in the lead with a 24% year-over-year drop, and wheat exports which are currently running 6% lower.
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