11/16/06 Ag export-import records

A record has been set for US agricultural trade exports in fiscal year 2006 which ended September 30th. US Department of Agriculture economist Nora Brooks says those exports topped 68.7 billion dollars. BROOKS "Which is about six billion higher than fiscal 2005 record and it's actually slightly above than USDA's August forecast." The actual numbers came in over 700 million dollars higher than expected and sharply higher crop prices had something to do with that. BROOKS "Higher corn and wheat prices really drove those prices up because corn, soybeans and wheat still make up 50 percent of our exports. For major bulk items Brooks says volume was up 22 percent over 2005. For the current 2007 fiscal year Brooks says all signs point to another export record. BROOKS "We'll be updating our forecast next week, actually the day before Thanksgiving." While setting an export record the US also set an agricultural import record. BROOKS "It was at 64 billion which is also six billion higher than the fiscal 2000 record but the imports came in lower than what we forecast in August. That was 64.5 at that time. " Live animal imports, cattle and sugar that had the largest import increases over 2005. Today's Idaho Ag News Bill Scott