Record supplies will depress exports

Brandon, Hombree
March 2005
Southeast Farm Press;3/9/2005, Vol. 32 Issue 8, p30
Trade Publication
The article focuses on the record high prices of soybeans and cotton. U.S. agricultural exports are forecast to hit US dollar 59 billion in fiscal 2005, down from the US dollar 62.3 billion level of 2004. The decline from 2004 is due to record global grain, soybean and cotton supplies. The gains in export value since the November forecast reflect further depreciation of the U.S. dollar compared to currencies of major export competitors and rising global demand, buoyed by strong economic growth. Higher prices also will boost the expected export value of soybeans and cotton. Supported by strong global demands and a weaker dollar, the value of U.S. horticultural products, dairy products and pork are all forecast to hit record highs.


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