U.S. Foreign Agricultural Trade of the United States, September /October 1985

Rising foreign production, falling prices, and shrinking volume pushed down U.S. agricultural exports 17 percent in value during the first 11 months of fiscal year (FY) 1985 (October1984-August 1985) to $29. 3 billion from $35.1 billion a year earller. Unfavorable weather conditions and higher prices for fruits, fruit juices, arr.d vegetable oils boosted U.S. agricultural imports to $18.1 billion during the first 11 months of FY 1985, 5 percent above those of the same period in 1984. The U.~S. dollar fell against all five currencies (German mark, Japanese yen, British pound, Dutch guilder, Canadian dollar) most important to U.S. agri- cultural trade during July. U.S. agricultural exports benefit both the farm and nonfarm sectors by generating employment, income, and purchasing power. U.S. agricultural sales to Latin America may fall to $4.7 billion in FY 1985 and to $4. 6 billion in 1986 from $5.3 billion in 1984, depending on the region's weather and Mexico's buying activity