Export forecast increases $3 billion

The U.S. Department of Agriculture (USDA) has raised the fiscal year (FY) 2005 forecast of ag exports from $56 billion to $59 billion, figures that, if realized, would rank 2005 in the top three export sales years.

According to an agency news release, the increase can be attributed to increased demand for high-value U.S. products bolstered by a weaker dollar. Canada is expected to remain the No. 1 market for U.S. ag goods at $10.2 billion, while Mexico will surpass Japan for the No. 2 seat, at $8.5 billion. Japan is expected to reach $7.7 billion in exports.

For a complete report visit www.fas.usda.gov.


— by Crystal Albers, Angus Productions Inc. assistant editor

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