Feb. Value of US Ag Exports Fell Below $14 Bil. for 1st Time in FY 2014

April 4, 2014 12:57 AM
 

via a special arrangement with Informa Economics, Inc.

Slump in export value helped pare the monthly ag trade surplus to its lowest since Sept. 2013


NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.


The value of US ag exports fell to $13.087 billion in February, the first total under $14 billion so far in FY 2014 and the lowest value since September 2013, according to USDA data.

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The value of US ag imports was slightly lower, dripping to $8.250 billion
, leaving the monthly trade surplus at $4.836 billion, the smallest since $2.892 billion registered in September 2013.

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But the pace of US ag exports so far in FY 2014 still is running ahead of the pace seen at this point in FY 2013:

Category

FY 2014 To Date
(Billion dollars)

FY 2013 To Date
(Billion dollars)

Ag Exports

$72.347

$67.405

Ag Imports

$42.569

$42.290

Trade Balance

$29.778

$25.114


Comments: USDA is apparently now expecting that things will change dramatically in coming months on the trade data side as the forecast ag trade surplus for all of FY 2014 is $32.6 billion, less than $3 billion above where the cumulative trade surplus stands after just five months of the current FY. In FY 2013, the trade surplus did tail off from an average of just over $5 billion in the first five months of FY 2013 to just $1.7 billion for the final seven months of the fiscal year. The ag trade surplus has averaged nearly $6 billion for the first five months of FY 2014.

The growth in the value of US ag exports is the key so far with the ag trade surplus as the cumulative value so far is nearly $5 billion ahead of the same period in FY 2013 while imports are nearly $300 million above the level at this stage in FY 2013.


NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.


 


 

 

 

 

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