Foreign Agricultural Trade of the United States, March/April 1985

U.S. agricultural export values fell 6 percent below year-earlier levels to $16 billion during the first 5 months of fiscal year (FY) 1985 (October 1984- February 1985). U.S. agricultural import values totaled $8.2 billion during the 5-month period, continuing their rise from FY 1984. The U.S. dollar advanced strongly against all major currencies during the first 2 months of calendar year 1985. Iowa moved ahead of Illinois as the leading agricultural export State in FY 1984, largely due to the 1983 drought, which severely reduced soybean yields in 25 of the 29 producing States. Slow growth in n U.S. exports to Canada and steady expansion in U.S. imports from Canada continue to narrow the U.S.-Canadian agricultural trade balance