August 25, 2006
August 25, 2006 - On Wednesday, Agriculture Secretary Mike Johanns announced record U.S. agricultural export forecasts for fiscal years 2006 and 2007, with horticulture products, corn and soybeans accounting for most of the expansion. Exports are expected to reach a record $68 billion in fiscal 2006, eclipsing the old record of $62.5 billion set in fiscal year 2005. For fiscal year 2007, the forecasts indicate U.S. agricultural exports will reach a record of $72 billion, $4 billion above this year.
In 2005, U.S. agricultural exports to both Canada and Mexico totaled $19.6 billion. They are forecast to reach $23.7 billion by 2007, accounting for one-third of all U.S. agricultural exports.
The full quarterly report of the U.S. Department of Agriculture's Outlook for U.S. Agricultural Exports may be accessed at: www.ers.usda.gov