So far, the first five months of the fiscal year have been great in terms of U.S. ag exports.
They are running 9 percent ahead of last year’s pace. However, tonnage tells a different story. The volume going out has been going down.
According to USDA economist Bart Kenner, “The cotton and the winters export volumes were down the most, down 32 percent. Prepared and preserved vegetables were down 24 percent. Soybeans down 15 percent, wheat was down 19 percent, and rice down 21 percent.”
He adds that volume sales and export values of corn were both up.
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