Fiscal year 2024 ended September 30th and the final fiscal numbers of the year are now available. Total exports for the year were $174.4 billion dollars, which was slightly better than expectations. However, USDA economist
Bart Kenner says export values were still down 2% from 2023.
Imports of foreign ag products grew by 6%, which created an ag trade deficit of nearly $32 billion.
Kenner has this to say about the outlook for 2025 and what some analysts are anticipating.
USDA will release its forecast for 2025 during Thanksgiving week.
Kenner says that U.S. bulk farm commodity export values suffered during the 2024 fiscal year.
