U.S. agricultural exports for fiscal year 2014 (October 1st – September 30th) are estimate to be $149.5 billion according to the U.S. Department of Agriculture (USDA). The new forecasted value is 6% up year on year and is significantly above the previous estimate of $142.6 billion. This marks the second year of record exports for the country with last year’s agricultural exports totaling $140.9 billion. The forecast for the U.S. agricultural trade surplus is $6.3 billion above the previous estimate released in February of $39 billion. U.S. farm exports to China are expected to reach a record $28 billion on shipments of soybeans, sorghum and dried distiller grains. Total U.S. grain and feed exports are estimated to be valued at $35.8 billion – up $4.5 billion because of reduced competition from Argentina and elevated wheat prices. The value of U.S. oilseed exports are expected to be $33.8 billion – $2.4 billion above the previous estimate driven by record soybean sales to China and exports of U.S. livestock, dairy, and poultry will be a record $32.2 billion despite a decrease in pork and poultry because of increases in beef and dairy.
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