Meyer: Fiscal Year Looks To End On Record Note
Roughly one month remains on the Fiscal Year, and when the trading books for FY2022 close they will show a strong pace of growth when it comes to Ag exports. USDA chief economist Seth Meyer said he expects those numbers to be very strong by the end of September.
“Far and away a record, building on the previous record set the previous year.”
At this point, Meyer noted the U.S. is positioned to do $196 billion in Ag trade, a $5 billion increase from May’s forecast, of $172.7 billion. If realized, that will be a 13% increase in Ag exports.
When it comes to Ag imports.
“[That] was revised up by $11.5 billion to $192 billion.”
Which is an 18% year-over-year increase, making it the largest single year jump in Ag exports since 2011.
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