Ag Exports Remain Strong Despite Tariffs

Regardless of the international scene, U.S. Ag exports continue to run higher than a year ago for the first 11 months of fiscal year 2018.  USDA trade analyst Bryce Cook said export value is on the way up.

"$133.1 billion, that's up from the previous year by about 3%."

Cook said that increase comes primarily from a 5% increase in high-value exports.  Bulk commodities are running 2% below last year, thanks primarily to soy beans.

"There was a 7% drop in value and 3% drop in volume for soy beans compared to the previous year."

But, the interesting thing is if you look at the soy bean value just in July and August, the first two months of the Chinese tariffs on U-S beans.

"Those totals are actually up, as far as exports go to the world, 24% above what it was the previous year."

Even though U.S. bean prices are lower and sales to China are down.  But, Cook said other customers have come in to buy from us at lower prices, specifically from the European Union.​