WASHINGTON, D.C. (RFD News) — U.S. agricultural export prices strengthened in July even as overall export prices moved lower, giving agriculture a firmer price signal than much of the broader export economy. Bureau of Labor Statistics data show agricultural export prices increased about 1% for the month and roughly 6% from a year earlier.
Overall U.S. export prices fell about 1% in July, while nonagricultural export prices declined roughly 2%. The divergence leaves agriculture among the stronger export-price categories during the month.
BLS says soybeans, oilseeds, food oils and other food products helped drive the year-over-year increase in agricultural export prices. The index has not posted a monthly decline since December.
For producers, the index is not a farmgate price measure, but it does indicate a stronger pricing environment for U.S. agricultural products entering foreign markets.
Higher export prices can support revenue growth, but competitiveness still depends on demand, freight costs, exchange rates, and trade policy.
