Though the Mississippi River’s low levels are affecting barge traffic, it is a different story overseas as U.S. agriculture export values continue to break records.
August came in as the highest August in history as USDA economists say $15.5 billion worth of ag exports were recorded for the month.
In the first 11 months of the fiscal year, ag exports totaled just shy of $183 billion, which is up almost 15 percent from last year. Economist Bart Kenner says imports were up almost 20 percent.
“Imports were $178.1 billion, up 19 percent from $149.4 billion this last time last year, or a trade balance of $4.7 billion, down 55 percent from $10.4 billion this time last year,” said Kenner.
Kenner says corn exports are up 11 percent, soybeans are up 27 percent, and cotton is up a whopping 40 percent from last year - all are contributing to a record month for ag exports.
