"FY 2011 Exports Expected to Rise to $113 Billion; Imports Rise to $81.5 Billion"
The latest projected Agricultural export numbers have been released by the USDA. Agricultural exports are up this year and so is net farm income due to stronger prices. It is appearing, currently, to be a bright spot in the economy.
As usual, global weather disasters have shifted the dynamics of supply and demand.
In the U.S....
Net (agricultural) cash income is expected to rise more than 23 percent to $85.3 billion – the second highest on record and above its previous 10-year average.
Net farm income has rebounded, up 24 percent from 2009, when demand for agricultural products fell worldwide due to the global recession.
I wanted to see corn ethanol export numbers, since the high sugar price is expected to increase the export market for U.S. corn ethanol but they are not to be found in this release.
Corn, wheat, meat, and distillers grain exports will all increase, as will fruits and vegetables.
Overall, farm solvency is also in good condition in the U.S.
For more details on Ag export and import numbers go here [pdf].