Hemispheric differences mean the South American harvest is under way as the U.S. planting season gets started. And though planters are not yet running at full throttle, favorable weather has pushed field activity forward.
The pre-season buildup is being eclipsed by new numbers from the USDA. According to the report, the value of US farm exports in the first five months of fiscal year 2005 hit 27.4 Billion dollars, down 1.4 billion dollars over fiscal year 2004.
Despite this decline, some sectors saw marked increases. Dairy product exports jumped by 68 percent and vegetable exports grew by 24 percent.
The news was not as bright for grain farmers. The latest USDA report shows corn and wheat exports lagging behind projections while soybeans are holding steady. The whole situation has done little to bolster sagging grain prices.