Agricultural exports are continuing their record-breaking pace. According to USDA economist Nora Brooks February was the first month ever to top $10 billion in ag exports, coming in at $10.1 billion in sales.
"For the first five months of fiscal 2008, the export value is at $47.8 billion," Brooks says. "That is roughly 42% above the first five months of fiscal '07."
Up to this point Brooks has been forecasting $101 billion in exports for this fiscal year. Brooks now says they expect to raise the fiscal '08 export projection because of stronger than expected exports in most of the major grains and oilseeds. The new forecasted numbers will be released May 29.