Ag Exports Down From 2017

The latest Ag exports numbers show that America farmers shipped $1.43 billion worth of goods over seas in fiscal year 2018.  USDA Trade Economist Bryce Cooke said that's about $600 million less than forecast.  But, despite all the trade problems;

"It was up $ 3.2 billion, or 3% from the previous year. The previous year was one hundred $140.2 billion, as opposed to $143.4 billion."

Cooke attributes the increase to a generally stronger world economy, making for stronger demand.  U.S. corn sales were, for example, up 17% in value, but soybeans were down 9% in value terms and 5% in quantity.  Cooke said you can't attribute all of that to the Chinese tariffs that kicked in in July.

"Soybeans exports to the world were below 2017 for much of the year."

Meanwhile, as China stopped buying, other customers came in and bought some beans.  For example, Mexico and Egypt, neither of which bought any US beans last year.

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