USDA Economist Dylan Russell said U.S. export business is valued at $196.4 billion for the fiscal year that ended Sept. 30.
The complete U.S. agricultural trade numbers for fiscal year 2022 show what analysts had projected: a record export year in terms of dollar value.
USDA Economist Dylan Russell said U.S. export business is valued at $196.4 billion for the fiscal year that ended Sept. 30. That is the country’s biggest U.S. ag export year ever; almost every product did better than this past year.
Wheat export value was $8.3 billion, up 15%. Corn was up 12% at $19.5 billion. Soybeans were $33.3 billion, an increase of about 26%.
Russel said there were many other commodities that also showed some big export increases, for example, dairy products.
“Exports were up 25% in terms of value in fiscal year 22; it was just over $9 billion, and in fiscal year 21 it was $7.3 billion,” Russell said. “We also saw increases in red meats and products and poultry meats and products. Red meats were up about 10% in terms of export value, and poultry meat and products were up 16%.”
Vegetable oil exports jumped by 28%, and ethanol by 67%. In fact, the only commodities that really saw export value declines were rice with a 10% drop and tobacco with sales falling by 27%.
Three countries were the biggest buyers of American exports.
“China was our largest, receiving $36.37 billion of U.S. agricultural exports,” Russell said. ”Canada was in second with $28.3 billion, and Mexico in third with $28 billion.”
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