When taking a look at the first ten moths of this fiscal year, the USDA says ag exports hit $147.5 billion.
“Well on track to meet the projections for fiscal year 2021,” according to USDA economist Bart Kenner. He noted total exports are expected to top out at $173.5 billion. With two months of data yet to come in the US would have to average about $13 billion dollars of export sales per month, and for each of the last two months, exports have been right around $13 billion.
A lot of the export value increases over the last year are coming from higher prices for many commodities but Kenner says the icing on the trade cake is that, “even with increased prices the volume is increasing as well.”
Export volumes of both products 38% higher larger than a year ago so far and customers are not shying away from higher prices, “they are continuing to buy.”
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