FY2020 Ag Exports Finished The Year Strong

Despite the challenges before the farm community throughout Fiscal Year 2020, Ag export values have slightly trailed 2019 numbers. And USDA economist Bart Kenner noted it was obvious in August that for 2020 sales to meet USDA's target forecast of $135 billion Americans would need to have a very good September; and that's exactly what happened.

"It did bring us in above our projections," he noted.

Kenner, said usually September sales run about $10 billion, but this September sales topped out at $12.2 billion, and that took total exports up to $135.9 billion dollars up about $400 million dollars from 2019. Kenner said a big chunk of September's export outing came from soybeans. In August U.S. sales were about $1.5 billion.

"[And], in September, they were up to $2.9 billion for an increase of 79%."

And for the year U.S. soybean exports ended up 6% ahead of 2019 partly because of a 47% increase in sales to China. Now we're in to FY 2021 USDA will issue its new forecast on November 23rd. 

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