Ag Trade During First Half of Fiscal Year is Up
Although seasonal ag export trade is down for the last couple months in total, ag trade for the first five months of the fiscal year, that’s October through February, is up. The numbers show that bulk commodities have the total trade export numbers up 16% by value over the same period last year. Export markets remain key to corn farmer profitability, especially in a state like Illinois that relies heavily on overseas markets. For the 2016 crop year, 39% of your corn left the state as bulk commodity corn, and even more corn value left as ethanol, DDGS, or as corn-fed meat products. For IL Corn farmers, export markets and trade certainly matter to your bottom line. To give us more information on the issue, listen to this audio report featuring Bryce Cooke, USDA trade economist.