World Perspectives

Big Picture Trade Snapshot

U.S agricultural exports through May (the June data will be released on Thursday) show that among the 213 categories tracked for agriculture, exports are down year-to-date from last year by 8.5 percent in value, while imports are down 0.3 percent. Overall, that is a 4.4 percent drop in two-way trade. The ag trade balance is negative at $6.78 billion, or about 4 percent of the overall two-way value of trade at $159.69 billion. The ag trade balance was positive in 2022 and 2021 but was negative in 2020 and 2019 by less than half a million dollars compared to the current ag trade deficit. The overall U.S. balance of trade in goods and services, as opposed to the ag trade balance, saw the trade deficit in June fall to $65.5 billion as both imp...

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From WPI Consulting

Communicating importance of value-added products

Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.

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