USDA: 2022 A Big Year For Ag Exports

The USDA is out with the final Ag trade numbers from December, closing the books on 2022.  USDA’s Bart Kenner said December was a record December for exports $17 billion worth of sales.  He said that puts calendar year 2022 export sales at a record high $196 billion beating 2021's record by $20 billion, but he noted, “most of the gains in exports came from unit value increases from higher prices as a lot of the volumes exports that are tracked were actually declining.”

Wheat he noted were up 19% year-over-year, soybeans jumped up 26%, but the commodity that saw the best improvement was cotton.  Kenner says cotton exports for $9.2 billion was up 57% over last year, while volume jumped up by 16%.  When it comes to Ag imports for 2022.

"[They were] $198 billion up 16% from 170.6 billion in 2021 for a trade deficit of $2 billion which is 8 billion below the trade surplus of $6 billion in ‘21.”

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