Larger Commercial Shipments Boost U.S. Farm Product Exports in Calendar Year 1970

Excerpts from the report: U.S. exports in calendar year 1970 rose $1.2 billion to a record $7.2 billion with all of the rise in commercial shipments. Exports of oilseeds and products soared to a high of $1.9 billion from $1.3 billion in 1969. Exports of wheat grain were up about 40 percent, feed grain advanced nearly a fourth, and other commodities showed smaller gains. Much of the advance was due to smaller grain crops in Europe and to accelerated demand for grains and oilseeds and products for livestock feed. Tight world supplies of oilseeds and products also strengthened demand for U.S. exports of these products, which rose to unprecedented shares of foreign consumption. Exports of rice and tobacco fell to lower levels. U.S. rice faced stronger competition from greater foreign production, while increased foreign supplies and higher U.S. prices held down U.S. tobacco exports