USDA’s Economic Research Service (ERS) is forecasting lower U.S. agricultural exports in FY 2014 at $135 billion. This is compared to $140 billion for FY 2013. Oilseeds and products, wheat, rice, and feed exports are estimated to decline because of lower prices.
Livestock, poultry and dairy products exports are forecast with little change. The U.S. agricultural trade surplus is expected to be $22 billion, which is $13 billion lower. This will be the smallest agricultural surplus since 2007, according to ERS.
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