OUTLOOK FOR U.S. AGRICULTURAL EXPORTS--SUMMARY          February 22, 1995
              Approved by the World Agricultural Outlook Board
-----------------------------------------------------------------------------
This SUMMARY is published by the Economic Research Service, U.S. Department of
Agriculture, Washington, DC 20005-4788.  The complete text of AGRICULTURAL
EXPORTS (also known as Outlook for U.S. Agricultural Exports) is available 2-3
working days following release of this summary.
-----------------------------------------------------------------------------

U.S. EXPORT FORECAST REVISED UPWARD TO RECORD $48.5 BILLION IN 1995

Fiscal 1995 U.S. agricultural exports are revised upward $3.5 billion from the
November 1994 forecast to a record $48.5 billion.  Export prospects for U.S.
wheat, coarse grains, oilseeds, and cotton are greatly improved, up $2.8
billion from the November forecast.  Corn is up $1.1 billion as projected
volume is 20 percent higher and prices are stronger.  Cotton volume is 38
percent higher, and stronger cotton prices raise export value $900 million. 
Total agricultural export volume is projected at 156.6 million tons, up 12.5
million from the November forecast and more than 29 million above last year.

Further gains are forecast for high-value products (HVP) in fiscal 1995. 
Higher expected exports of poultry, livestock, and horticultural products
provide an additional $500 million to the forecast.  HVP exports will reach
nearly $28 billion in fiscal 1995, up 5 percent from the previous year.

U.S. agricultural imports are revised upward $500 million to $28.5 billion
because of increased live animal, beef, vegetable, sugar, and rubber imports. 
The projected 1995 agricultural trade surplus is expected to be $20 billion,
the highest since 1982.

          Table 1--U.S. agricultural trade, fiscal years, 1990-1995

                         -- Year beginning October 1 --                     
         :         :         :         :         :         :    Forecast
Item     : FY 1990 : FY 1991 : FY 1992 : FY 1993 : FY 1994 :     FY 1995
         :         :         :         :         :         :   Nov. :  Feb  
         :                      -- Billion dollars --
         :
Exports  :   40.1      37.5      42.3      42.5       43.5     45.0    48.5
         :
Imports  :   22.5      22.6      24.3      24.5       26.4     28.0    28.5
         :                                                                  
Trade    :
 balance :   17.6      14.9      18.0      18.0       17.1     17.0    20.0
         :                                                                  
         :                    -- Million tons --
Export   :
 volume  :  148.7     129.4     143.6     146.4      127.4    144.1   156.6
         :                                                                  
This outlook reflects commodity forecasts in the February 10, 1995, World
Agricultural Supply and Demand Estimates.


      Table 2--U.S. agricultural exports:  Value by commodity, 1993-95        
                             : October-December : Fiscal :    Fiscal 1995
      Commodity              :  1993  :   1994  :  1994  :      Forecast
                             :        :         :        :   Nov.   :  Feb.   
                             :              --Billion dollars--
Grains and feeds 1/          :  3.795    4.207    13.413    13.6      15.3
  Wheat & flour              :  1.212    1.252     4.228     4.6       5.0
  Rice                       :   .209     .328      .891      .8        .8
  Coarse grains 2/           :  1.413    1.576     4.569     4.9       6.0
    Corn                     :  1.255    1.374     3.817     4.2       5.3
  Feeds and fodders          :   .596     .635     2.277     2.0       2.1
                             :
Oilseeds and products        :  2.326    2.689     6.975     7.2       7.6
  Soybeans                   :  1.489    1.659     4.161     4.4       4.5
  Soybean meal               :   .330     .276     1.013      .9        .9
  Soybean oil                :   .128     .220      .433      .5        .6
                             :
Livestock products           :  1.571    1.956     6.320     6.5       6.6
  Beef, pork & variety meats :   .833     .957     3.206     3.4       3.4
  Hides & skins, incl. furs  :   .302     .386     1.423     1.5       1.5
Poultry & products           :   .415     .577     1.720     1.8       1.9
Dairy products               :   .248     .202      .832      .8        .8
Tobacco, unmanufactured      :   .321     .363     1.260     1.3       1.3
Cotton & linters             :   .384     .754     2.306     2.5       3.4
Seeds                        :   .182     .215      .619      .6        .6
Horticultural products       :  2.061    2.559     8.098     8.6       8.9
  Fruits & preparations      :   .704     .794     3.047     3.3       3.3
  Vegetables & preparations  :   .537     .675     2.169     2.3       2.4
  Tree nuts & preparations   :   .420     .402     1.124     1.0       1.1
Sugar, tropical, and other   :   .529     .524     1.931     2.1       2.1
                             : 
   Total 3/                  : 11.831   14.046    43.474    45.0      48.5
                             :                                                

   Table 3--U.S. agricultural exports:  Volume by commodity, 1993-95          
                             : October-December : Fiscal :   Fiscal 1995
      Commodity              :  1993  :   1994  :  1994  :     Forecast
                             :        :         :        :   Nov.  :  Feb.    
                             :            --Million metric tons--
Wheat                        :  9.116    8.522    31.132    32.0      33.5
Wheat flour                  :   .202     .244     1.037     1.0       1.0
Coarse grains 2/             : 12.612   15.747    39.845    48.4      57.0
   Corn                      : 11.113   13.701    33.057    41.5      50.0
Feeds & fodders              :  3.100    3.300    11.797    12.2      12.1
Rice                         :   .711    1.261     2.438     2.7       2.9
Oilseeds and products        :  8.440   10.499    24.154    29.9      30.5
  Soybeans                   :  5.983    7.691    16.364    21.0      21.4
  Soybean meal               :  1.549    1.500     4.859     5.4       5.4
  Soybean oil                :   .217     .347      .694      .8        .9
Beef, pork & variety meats   :   .247     .303     1.025     1.1       1.1
Poultry meat                 :   .335     .476     1.364     1.5       1.6
Animal fats                  :   .364     .447     1.341     1.3       1.3
Cotton & linters             :   .302     .492     1.639     1.6       2.2
Horticultural products       :  1.544    1.908     6.600     7.4       7.4
Other                        :  2.403    2.426     5.042     5.0       6.0
   Total agriculture         : 39.377   45.625   127.414   144.1     156.6
   Major bulk products 4/    : 28.724   33.713    91.418   105.7     117.0
                             :                                                
 1/ Includes pulses and corn products.  2/ Includes corn, barley, sorghum,
oats, and rye.  3/ Totals might not add due to rounding.  4/ Includes wheat, 
rice, coarse grains, soybeans, and cotton.

Printed copies of the Outlook for U.S. Agricultural Exports will be available
in about a week. For further information, contact Joel Greene (202) 219-0816.  

END_OF_FILE