US Farm Export Prices Plunge As Import Prices Soar Most In Over 6 Years

Amid the pre- and post-tariff channel-stuffing noise, July import prices surged more than expected, rising 4.8% YoY – the most since Feb 2012 – and at the same time export price growth slowed notably (from +5.3% YoY to +4.3% YoY).

US Farm Export Prices Plunge As Import Prices Soar Most In Over 6 Years

Notably, however, import prices ex-Petroleum dropped 0.1% MoM (missing expectations of a 0.1% rise) – falling for the second month in a row… (Export prices fell 0.5% after rising 0.2% in June)

US Farm Export Prices Plunge As Import Prices Soar Most In Over 6 Years

China exported a very modest amount of deflation in July as its import prices index dipped…

US Farm Export Prices Plunge As Import Prices Soar Most In Over 6 Years

The big driver of export price growth decline was prices for U.S. farm exports dropped in July by the most in more than six years as a trade war with China heated up, Labor Department figures showed Tuesday.

US Farm Export Prices Plunge As Import Prices Soar Most In Over 6 Years

Agricultural export prices fell 5.3 percent from the prior month, the biggest drop since October 2011, as soybean prices plummeted 14.1 percent.
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