U.S. exports for fiscal 2010 are poised to achieve a value of $104.5 billion in sales—an $8 billion increase over last year and the second highest level in history, according to Outlook for U.S. Agricultural Trade released Thursday.
The trade surplus in agriculture is now forecast to reach $28 billion, the second highest ever achieved.
The report comes on the heels of a historic six-month pace of U.S. agricultural exports, which shattered records with $59 billion in sales in the first half of the fiscal year and generated a 14 percent increase over the same period last year.
U.S. agricultural exports to China grew by nearly $3 billion during the first half of the fiscal year to $10.6 billion, making China the United States’ top market for this period.