USDA data shows ag trade balance sheets are in the red with double-digit declines in the billions of dollars expected this year.
For wheat, economists explain that there is a unique situation happening.
“We see wheat exports rounded up to $2 billion, which is down 6% from the same period last year, whereas we’ve got a 6% increase by volume for last year, so we’re actually exporting more wheat, but at a lower price. So we’re seeing a negative value change over the last year,” said USDA economist Bart Kenner.
While the markets work to digest all the recent changes, some traders are following the numbers and they say they are showing a pattern.
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USDA Undersecretary Outlines Farm Bridge Assistance Program, Responds to Call for Ag Trade Expansion
USDA Undersecretary Luke Lindberg outlines the Farm Bridge Assistance Program and responds to calls from lawmakers and ag leaders for more assistance and expanded trade opportunities for farmers.
