USDA has corrected its figures released October 7 on U.S. ag export and imports for August, essentially swapping the figures for the two categories. USDA now says that exports in August totaled $11.27 billion and imports at $10.46 billion, putting the monthly balance at a surplus of $813 million.
USDA on October 7 reported the figures as exports at $10.46 billion against imports of $11.27 billion for a trade deficit of $813 million.
The adjustment by USDA means the U.S. has only registered a trade deficit in agriculture three months of Fiscal Year (FY) 2019 and would indicate a deficit for the entire FY is now far less likely.
While it appeared unlikely that the U.S. would register a trade deficit in agriculture for all of FY 2019, that is even more the case now in light of the updated figures.
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