US Ag Exports Eased in July, But Imports Continued to Grow

The U.S. ag exports were valued at $11.18 billion in July, worth of agricultural goods during July, a slight decline from June. But the value of U.S. ag imports climbed versus June to $10.58 billion. This helped to narrow the U.S. ag trade surplus to just $601.3 million, a 59% plunge from June and the fifth time in seven months the trade surplus has fallen short of the $1 billion mark.So far this fiscal year, the U.S. has an ag trade surplus of $14.342 billion, down 27.1% from last year at this point in the season.Both exports and imports are up from year-ago, but the gain in imports has far outpaced the increase in exports.