In the USDA’s quarterly Outlook on Agricultural Trade, promising news is on the horizon.
The 2018 fiscal year is expected to see $142.5 billion in agricultural exports, an increase of $3 billion from the February report.
Grain and feed, cotton, oilseeds, livestock, dairy and poultry exports all saw an increase from the first quarter report.
According to the report, U.S. ag imports have increased as well, an increase of $3 billion to $121.5 billion. There is a trade surplus of $21 billion, unchanged from February.
For the full report from the Economic Research Service, click here.