Record U.S. Ag Exports Projected For 2006 & 2007

USDA is projecting record U.S. ag exports for fiscal years 2006 and 2007, with corn, soybeans and horticultural products accounting for most of the expansion.

USDA is projecting record U.S. ag exports for fiscal years 2006 and 2007, with corn, soybeans and horticultural products accounting for most of the expansion. Exports are expected to reach $68 billion in FY 2006, and $72 billion in FY 2007. The previous record was $62.5 billion in FY 2005.

USDA says the North American Free Trade Agreement (NAFTA) will account for a third of all U.S. ag exports. Canada and Mexico are expected to import $19.6 billion this fiscal year and $23.7 billion in FY 2007.

Meanwhile, ag imports are forecast to reach $64.5 billion in 2006 and $68.5 billion in FY 2007. The increases are due to fresh fruits, vegetables and wines.
-- P. Scott Shearer, Washington, D.C., correspondent

TAGS: Exports