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.
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