Export Values Up, Volume Down

Ag trade numbers through the first six months of this fiscal year, October through March, show US Ag exports on the way to a probable record high for value. 

"[However], the volume side of things looks like a very different story," noted USDA Economist Bart Kenner. USDA listing 19 products in its report, 15 of those showing volume declines compared to a year earlier, including wheat, sorghum, rice, soybeans. Kenner says there are almost as many reasons for the declines as there are products, including:

"Increasing transportation costs, with oil pricing increases and shortages, with the conflict with Ukraine. There's a lot of things affecting moving goods around the world right now."

Also, most commodities are costing a lot more than they did a year ago, bringing up this economic rule of thumb.

"If it's more costly to purchase a product, you're typically going to not purchase as much."

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