Agricultural exports from the U.S. declined for a second straight month in April to $10.6 billion. This is the lowest agricultural export value since July 2012.
The value of the United States’ agricultural exports was down 3.6 percent from the level seen in April 2012 when it exported $11 billion worth. Prior to the past two months, exports had shown increasing year-over-year values for 10 straight months. When compared to March 2013, export value fell 9.5 percent, according to data from the U.S. Census Bureau. Agricultural exports have been down month-to-month for the past half year.
U.S. agricultural imports, on the other hand, were at their highest value in April since the JOC began collecting this data in February 2011. They rose 7.2 percent year-over-year and inched up 0.8 percent month-to-month to reach $9.6 billion. The trade balance is now roughly a surplus of $1 billion, the lowest in over two years.