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U.S. Agricultural Exports Expected to Fall More in '16
USAgNet - 03/01/2016

The overall value of U.S. agricultural exports is expected to fall 10.5 percent in 2016 even as the nation ships larger volumes of key crops like long-grain rice, soybeans and corn, the U.S. Department of Agriculture said Friday.

Weak economic growth in the global market, especially China, coupled with the strong dollar are the main reasons, according to USDA's chief economist, Robert Johansson.

Combined with bumper crops and moderate growth in demand, those factors have driven up global stockpiles and forced commodity prices down, Johansson said in remarks prepared for delivery this week at the USDA's Agriculture Outlook Forum.

"Domestically, lower commodity prices will likely lead to reduced planted area, which is forecast down about 2.5 million acres for the 2016 major field crops," he said.

Long-grain rice is a notable exception, according to the agency's Grains and Oilseeds Outlook report, published Friday.

The USDA expects 2.08 million acres of long-grain rice, the most common variety in Arkansas, to be harvested nationwide in 2016. That's an increase of 240,000 acres over 2015.

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