If U.S. agricultural exports were a thoroughbred horse, bettors would be sorely disappointed with the horse’s start out of the gate this year. The value of exports through March has stumbled, off 5% compared to the same three months in 2024. And last year’s pace wasn’t particularly derby-winning, down 4% in the first quarter and 1% for the year. Figure 1 shows the percentage changes in the value of key exports for Nebraska in the first quarter along with annual changes for the three prior years. Red meats (beef, pork, and lamb), corn, and ethanol exports were higher compared to last year while the value of wheat, animal feed, and soybeans were lower.
Corn exports led the way in the first quarter, up 24%. Purchases by Japan, South Korea, and the European Union, along with continued healthy purchases by Mexico helped pace the gain. The value of ethanol exports was up 13% with Canada setting the pace.
Click here to see more...