What is in this article?:
- Exports up significantly
- Ag leads U.S. production in export
- Commodity prices and sales are up
Asia is key
Exports to Asia accounted for about 42 percent of total exports in 2010 and account for more than half of the increased export trade forecast for 2011, with China up more than any other market ($2.5 billion) to $17.5 billion and only half a billion less than the top market of Canada.
While tight global supplies have influenced increased exports of U.S. agricultural products, even at higher unit values, it appears that the depreciated value of the U.S. dollar has also had a big influence.
In 2009, U.S. export trade slowed significantly as a result of the global recession and the appreciated value of the U.S. dollar. Now, a weaker U.S. dollar, especially since spring 2010, is encouraging exports. While a weakening U.S. dollar aggravates the U.S. deficit/debt since more lower valued dollars are required to purchase imports, a cheaper U.S. dollar makes U.S. export commodities, such as corn, cotton, beef, etc., cheaper to overseas buyers, even at current increased prices. Increased exports will help boost the economic recovery which is underway. World demand for U.S. commodities remains strong.