Trade Surplus Forecast to Grow

The USDA expects to see an increase in the agricultural trade surplus in 2017. 

Exports are projected at $137 billion, which is a $1 billion increase from the February forecast. Livestock, poultry, and dairy exports are expected to increase by $600 million to $28.7 billion. Grain and feed are expected to increase by $400 million to $29 billion. And cotton is expected to increase by $400 million to $5.4 billion. 

Imports in 2017 are forecast at $114.5 billion, which is $1.4 billion above 2016. The trade surplus is expected to increase by $1 billion to $22.5 billion.