Higher corn, wheat, soy prices mean record U.S. farm exports

U.S. farm exports will hit a record $149.5 billion in the year ending on Sept 30, up 5 percent from the previous estimate due to higher corn, wheat and soybean prices as well as larger export tonnage, said USDA in a quarterly report. The record now is $140.9 billion, set in fiscal 2013. Agriculture Secretary Tom Vilsack said in a statement that record sales show “an increasing global appetite for high-quality, American-grown products.”

More than half of the exports would go to the top four buyers – China at a record $28 billion, Canada at $21.6 billion, Mexico at $18.5 billion and Japan at $13.1 billion.

To read the USDA report, click here.

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