USDA: June Trade Numbers Record Setting, But U.S. Continues Deficit

The latest complete Ag trade numbers, which come from June, show the United States had a good export sales month.  USDA Economist Bart Kenner said export dollar value was very solid.

"Agricultural exports for June '22, were $16.2 billion which was a 24% increase over June '21."

Which made this June the best June export month in USDA history.  While American producers sold that record $16.2 billion in farm products, the U.S. purchased $7.2 billion in foreign Ag products, resulting in a $1 billion trade deficit in June.

"We have had a deficit for the past four months, including June."

Despite all of that, for the first nine months of the fiscal year, the U.S. is running a $7 billion ag trade surplus.