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From: elmatador12/3/2007 9:29:20 PM
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U.S. FY 2008 ag exports to blow away previous record. value of U.S. ag exports for fiscal year 2008 at $91 billion. That’s $9.1 billion more than fiscal year 2007's $81.9 billion total and $7.5 billion more than USDA thought as recently as August.

U.S. FY 2008 ag exports to blow away previous record
Monday, December 3, 2007, 12:47 PM

by Peter Shinn

U.S. ag exports for the current fiscal year are set to completely eclipse the previous record set in the fiscal year that ended September 30. That's according to USDA, issued its latest ag trade update Friday.

USDA is now projecting the value of U.S. ag exports for fiscal year 2008 at $91 billion. That’s $9.1 billion more than fiscal year 2007's $81.9 billion total and $7.5 billion more than USDA thought as recently as August. The USDA report said the big surge in U.S. ag exports this year is being driven by "continued strong demand, tight markets, sharply higher prices for grains and oilseeds, and a weaker dollar."

U.S. ag imports are also projected to be record-high at $75.5 billion. But USDA said the weak dollar is slowing the rate of growth for ag imports. And the expected ag trade surplus of $15.5 billion is the largest since 1997, when the U.S. ag trade surplus topped $21 billion dollars
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