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US sees farm trade surplus shrinking to 10-year low on imports

from Bloomberg via Agweb

The U.S. surplus in agricultural trade will tumble 63 percent to the lowest in a decade because of lower commodity prices and as the stronger dollar reduces the competitiveness of the country’s exports, the government said. In the 12 months ending Sept. 30, U.S. shipments of grain, soybeans, cotton, meat and other farm products will fall 5.9 percent to $131.5 billion amid “strong competition” from global producers and weaker Chinese demand, the Department of Agriculture said in a report. more

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