Ag Policy Blog
Chris Clayton DTN Ag Policy Editor

Thursday 11/14/13

Ag Exports Hit Record Levels

USDA reported 140.9 billion in agricultural exports for Fiscal Year 2013 on Wednesday , a record total, topping $137.4 billion in 2011.

The agricultural sector also imported $103.8 billion in goods, which is also a record level. The U.S. showed a positive trade balance of $37 billion.

The numbers reiterate comments made Wednesday by Michael Swanson, agricultural economist and senior vice president at Wells Fargo, at the American Bankers Association annual agricultural bankers conference in Minneapolis.

"We are becoming much more of a global focused export ag economy," Swanson said. He added, "We are going to depend on the global economy."

With exports to Canada and Mexico largely at capacity, attention remains on China, the dominate growth market for U.S. exports in recent years.

Agricultural Secretary Tom Vilsack praises the export figures, saying "2009-2013 stands as the strongest five-year period for agricultural exports in our nation’s history." He reiterated that the country's export success could be at risk if Congress doesn't get a new farm bill done.

"We need to remain focused on keeping up the incredible momentum we’ve seen over the past five years," Vilsack said. "First and foremost, Congress needs to pass a new Food, Farm and Jobs Bill to continue the trade promotion programs that helped American agriculture achieve these results. These trade promotion efforts return $35 in economic benefits for every dollar invested – a great value for producers who gain access to additional market opportunities abroad, as well as rural communities that depend on a solid agriculture sector to create and support jobs."

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Posted at 7:35PM CST 11/14/13 by Chris Clayton
Comments (5)
Since soybeans and corn have been, and presumably are again (the ERS top 25 commodities-exported-table has not been updated as yet for fiscal 2013), the first and second sources of export value, it would interesting to know how much of the 2009-2013 five-year record value of agricultural exports is due to prices vs quantity exported.
Posted by DARYLL RAY at 8:07AM CST 11/15/13
Wrong Jay, We have been using a 10% ethanal from the local store since 1983 or 1984. The big push started under President Carter during the OPEC ordeal.
Posted by Bonnie Dukowitz at 7:19AM CST 11/17/13
Whoops, wrong article. Sorry.
Posted by Bonnie Dukowitz at 7:25AM CST 11/17/13
Well Bonnie, I am blaming Obama on this article! Its all his fault Ag exports are so high!!!!
Posted by Jay Mcginnis at 7:02AM CST 11/18/13
Right Jay. The Chinese have nothing to do with it. Come on, just city and state. Grow a pair.
Posted by CRAIG MOORE at 9:15AM CST 11/18/13
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