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Agriculture exports helping meet Obama's goal

Tuesday, July 6, 2010

Increases in agricultural exports are helping an initiative set forward by the president.
Increases in agricultural exports are helping an initiative set forward by the president.

Production of a large amount of agricultural foods with American farm equipment is leading the way when it comes to a presidential effort to improve exports.

According to a report from Bloomberg, trade representatives within the government said the nation is on pace to meet a goal set by President Barack Obama, who wants to double U.S. exports within the next five years. Agriculture has helped by seeing goods shipped out of the country rise by 19 percent in the first quarter.

"We're very bullish on agricultural exports," Agriculture Secretary Tom Vilsack said.

The USDA recently announced it expects the country to have the second-highest number of agricultural exports since records have been kept. Furthermore, the department noted recently that the number of corn and soy fields planted this year is exceeding last year's total.

2009 was already a record-setting year for both of those crops, and at the current pace 2010 could yield even higher returns. However, that could also lead to lower prices, as demand wanes in the face of increased supply.ADNFCR-2034-ID-19876983-ADNFCR

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