Ag Export Surplus Forecast Up

The USDA released their latest forecast for agriculture trade, and noted that there is still mostly good news.

USDA Chief Economist Rob Johannson said, “We’ve still got a trade surplus in ag products sitting at about $22.5 billion. That’s up a billion from February and up $6 billion from 2016, so a growing ag surplus.”

The strong U.S. dollar has hurt exports and impacted the value for imports coming into the county like oilseeds, sugar and tropical goods and coffee.

Ag exports are forecasted to be about $137 billion and ag imports are valued at $114 billion.