Ag Export Numbers Look Solid

The United States is enjoying a strong ag export year so far with figures at the mid point of the fiscal year running almost $20 billion higher than the same six month period a while ago.

"Import numbers are also strong indicating that U.S. consumption is going up," which, USDA economist and trade tracker, Dylan Russell said is a good sign in many ways. Agricultural products coming in to the U.S. during the first half of this fiscal year totaled $76.8 billion dollars, which is a 7% year-over-year increase. The United States is buying more coffee, fruits, vegetables, and other foreign products. Russell says that increase is a sign of a strengthening U.S. economy.

"And you're just seeing some of the results of economic recovery this past quarter the US economy grew just over 6%, like 6.4% GDP growth," Russell continued.

That compares to 4% growth in the last quarter of 2020 and a 3.5% decline for all of 2020. 

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