Currency, oil and global growth underpin U.S. export outlook

Currency, oil and global growth underpin U.S. export outlook

USDA projects agricultural exports at $124.5 billion, $15.2 billion below 2015.

Slowing dollar appreciation and low oil prices, along with growth in the European Union and Asia underpinned the latest U.S. Department of Agriculture “Outlook for U.S. Agricultural Trade.” Agricultural exports in 2016 are forecast at $124.5 billion, $500 million below the February projection, according to the May report (Figure).

USDA noted that world per-capita gross domestic product (GDP) is expected to grow at 1.5% in 2016, slightly faster than the 1.4% increase in 2015. Per-ca

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