It was good while it lasted….
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While the United States is on its way to setting a record for agricultural exports in fiscal year 2014 which ends September 30, the latest data from USDA forecasts exports to drop in the coming year.
USDA recently upped its projections for FY 2014 to a record $152.5 billion and reduced forecasts for imports by $1 billion to $109.5 billion. If realized at the end of this month, that would leave the U.S. agricultural industry with a $43 billion trade surplus, a level only reached once before in 2011.