BLS: Farm exports prices drop at record rate
Prices for U.S. farm exports dropped in July by the most since 2011, the Labor Department’s Bureau of Labor Statistics reported Tuesday. Agricultural export prices fell 5.3 percent from the prior month, the biggest drop since October 2011, as soybean prices plummeted 14.1 percent, Bloomberg noted. Export prices for corn, wheat, fruits and nuts also slumped in July. The overall export price index dropped 0.5 percent, the most since May 2017, the department said. The figures exclude the price effect from any tariffs, Bloomberg said.