U.S. Department of Agriculture: Record High Agriculture Exports

Aug 31, 2012

U.S. Agriculture Exports 2013 Fiscal Year Reaches Historical High

The U.S. Department of Agriculture has forecasted that they will export $143.5 billion worth of agriculture goods in the 2013, setting an all-time record high; and the combination of higher prices for major commodities such as corn and wheat have pushed the forecast above the past three year’s record export highs.

“Even with tough odds due to extreme weather, U.S. agriculture is now poised for three consecutive years of record exports, smashing all previous records and putting America’s agricultural sector on pace to achieve President Obama’s goal under the National Export Initiative of doubling exports by the end of 2014. These exports will support more than 1 million jobs in communities across the country,” said Tom Vilsack, U.S. Agriculture Secretary.

In conjunction with high agricultural exports, the USDA also predicts that there will be a record high of imports of tropical oils, coffee, sugar and rubber as a result of the decline of global prices for these products.

Video: USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension

USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.