The U.S. exported $11.273 billion worth of ag goods during February, while it brought in $9.384 billion worth of such products, resulting in an ag trade surplus of $1.889 billion for the month, according to USDA’s Economic Research Service (ERS). This is down from a trade surplus of $2.241 billion in January, as the drop in exports outpaced the decline in imports.
So far this fiscal year (FY), the U.S. is running an ag trade balance of $16.718 billion, which is up $6.155 billion (58.3%) from FY 2016 at this point. While imports are up 4% from year-ago levels, exports are up 14%, which has lifted the trade surplus.
