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Abstract

A larger U.S. share of world trade helped push U.S. agricultural export value in the first 11 months of fiscal year (FY) 1987 to $25.5 billion, $1.1 billion over that of the same period of FY 1986. U.S. agricultural imports in the first 11 months of FY 1987 eased to $19.1 billion, 1 percent below the record highs of the same period in FY 1986. Prices for most products fell after June as Southern Hemisphere crops reached European markets, U.S. crops basked in favorable weather, and continued moderate increases in wages and U.S. import prices eased fears of resurgent inflation. U.S. agricultural exports generate employment, income, and purchasing power in the farm and nonfarm sectors.

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