Imports and exports

U.S. agricultural exports continue to slow. Ag imports continue to grow. USDA economist James Kaufman says we now have complete trade numbers for the first eight months of this fiscal year, October through May. And here's what the numbers say. Speaker2: Agricultural exports in May were at $13.7 billion, down almost 2% from the previous May. This puts US exports for fiscal year 2024 at 122.4 billion, 5%, or $6 billion lower than the same period in fiscal 2023. Speaker1: The biggest export value declines coming in bulk products. Kaufman says Bulk product sales overall are down 18% from this time a year ago. We have wheat exports down 18%, corn 7%. Kaufman says in terms of metric, tons of U.S. beans going to China during the first eight months of this fiscal year. t's not all bad news on exports I value. Speaker2: Product exports have fared a bit better than bulk commodities and are up 4% in fiscal year 2024, with. There are some pretty large increases for several high value products, including fresh fruit up 22%, ethanol 23%. Tree nut exports running 25% ahead of a year ago. Meanwhile, though, we're importing more ag products, 4% more than this time a year ago. Gary Crawford reporting for the U.S. Department of Agriculture.