U.S. AGRICULTURAL TRADE UPDATE January 21, 1997 Approved by the World Agricultural Outlook Board ----------------------------------------------------------------------------- U.S. AGRICULTURAL TRADE UPDATE is published monthly by the Economic Research Service, U.S. Department of Agriculture, Washington, DC 20005-4788. FAU-0197. Subcriptions to the printed version of this update are available from the ERS-NASS order desk. Call, toll-free, 1-800-999-6779 and ask for stock #FAU, $20/year. ERS-NASS accepts MasterCard and Visa. ----------------------------------------------------------------------------- Summary--November 1996 U.S. agricultural exports were a record $5.9 billion, up 13 percent from November 1995. Cumulative exports from January to November were $55.2 billion, a 9-percent increase from a year ago. November imports were $2.7 billion, up 5 percent from November 1995. The agricultural trade surplus for November was $3.2 billion, 21 percent higher than a year earlier. Exports--Bulk exports reached $2.9 billion in November, up 20 percent from a year ago. Soybean exports in November rose sharply, reaching 4.1 million tons, up 78 percent from November 1995. Much of the increase came from higher shipments to the European Union, which took 1.6 million tons, nearly 40 percent of total U.S. soybean shipments. Stronger soybean prices pushed the value to $1.1 billion, a 92-percent increase from November 1995. The export unit value for soybeans in November was $277 per ton, up from $257 a year ago. Cumulative exports through November were $6.4 billion, 35 percent higher than in 1995. Corn exports for November were 6.1 million tons, 20 percent higher than November 1995. Japan was the leading market with 1.4 million tons, while shipments to South Korea more than doubled from October 1996 to 1.2 million tons. Year-to-date corn exports remained 14 percent below a year ago at 47.4 million tons, however, the export value reached $7.7 billion, a 17-percent increase. The export unit value for corn was $140 per ton in November, nearly the same as a year ago, but down from the 1996 year-to-date average of $163 per ton as global supplies of feed grains increased. Wheat exports were 2 million tons, 29 percent lower than the previous year. January to November wheat shipments were nearly the same as a year ago at 29.6 million tons. Wheat's value in November was $356 million, down 36 percent from 1995 on lower prices. Cotton exports in November more than doubled from October 1996 to 125,000 tons but remained 22 percent below November 1995. Cotton shipments increased sharply in November to China, Japan, Indonesia, and South Korea. High-value product (HVP) exports were $3 billion in November, up 8 percent from November 1995. Poultry meat exports reached $271 million, a 41-percent increase over a year ago. Beef and veal exports dropped 29 percent from November 1995 to $183 million. Year-to-date beef volume was 565,000 tons, a 4-percent increase over 1995. However, beef export value dropped 7 percent to $2.3 billion with a lower unit value. Fresh fruit exports in November were $184 million, nearly the same as November 1995. The cumulative total for 1996 reached $1.8 billion, slightly ahead of 1995. Fresh vegetable exports were up 11 percent from a year ago at $78 million. Imports--U.S. agricultural imports for November were $2.7 billion, 16 percent lower than October 1996. Year-to-date imports reached $30.6 billion, 11 percent higher than a year ago. November coffee imports were 93,000 tons, the same volume as the previous year, but the value was down 15 percent with lower prices. Beverage imports were $271 million in November, an 18-percent decrease from the previous month. Beer imports dropped 9 percent to $98 million. Tobacco imports for November were 14,000 tons, down from 65,000 in October 1996. (Mark Gehlhar, 202-501-8525) Shift in Meat Exports -- Despite lower levels of beef exports, total meat and poultry exports have increased 9.4 percent in 1996. Pork exports increased 19 percent in 1996 reaching $940 million, nearly double the 1994 level of $499 million. Poultry meat exports grew nearly 26 percent in 1996 reaching a year-to-date total of $2.3 billion, surpassing beef and veal exports. Poultry meat exports to the former Soviet Union were up 67 percent reaching $953 million in 1996, and more than tripled from 1994 to 1996. Exports of poultry meat to Mexico were $180 million, up 23 percent in 1996 but remained below the 1994 level of $201 million. Poultry shipments to Japan and Hong Kong have been slower, while exports to China increased nearly 76 percent in 1996. Next Update February 21,1997 END_OF_FILE