U.S. agricultural exports in the first 7 months of fiscal year CFY) 1987, a transition , year, reached 75 million tons, slightly exceeding volume for the same period of 1986. Imports during the first 7 months of FI 1987 totaled $12.4 billion 1 percent above the record high of the same months of 1986. Grain prices rose with dry U.S. weather, concern for inflation, and renewed overseas sales, but commodity prices remained low compared with years past. Preliminary data show that concessional agricultural exports under U.S. Government-financed programs in calendar year 1986 fell about 30 percent, in volume to 5.8 million tons. Japan has remained the leading market for U.S. agricultural exports for the last 5 years CFY 1982-86), followed by the Netherlands, USSR, Canada, Mexico, South Korea, and Taiwan. Major markets for agricultural imports remained essentially the same in 1976-85.


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