Trade Surplus Surpassing Last Year

The U.S. has a $19 billion trade surplus in the first nine months of the fiscal year according to numbers released by the USDA.

Trade economist Bryce Cooke said if you compare it to last year, it's “Significantly larger than the trade surplus to date last year at this time which was $10.9 billion.”

Export values are also up 13 percent when compared to last year.

Cooke said a lot of this is being driven by bulk commodities.

“There’s been a 28 percent increase in bulk items when compared with a six percent increase in the higher value products.”

Wheat export values are up 33 percent, corn 28 percent and the USDA says there is a chance the US will reach $137 billion in ag exports.