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VALUE OF U.S. FARM EXPORTS EXPECTED TO RISE 7% IN 1992

The value of U.S. agricultural exports is expected to rise $2.5 billion in fiscal 1992 to $40 billion, a 7 percent gain over 1991, the Agriculture Department says.

Export volume also is forecast to rise, climbing 5 million tons to 134.5 million tons, the department said in a recent situation and outlook summary.The value of U.S. grain exports is expected to rise $800 million, while oilseed and product exports are expected to rise $900 million.

"Since the last forecast in December, prospects for U.S. exports of wheat, soybeans, soybean oil and horticultural products have improved," it said. "Also, wheat prices have strengthened because of tighter supplies, further boosting the outlook for export value. Weaker prospects for U.S. corn, cotton and tobacco exports were more than offset by gains in other products."

U.S. agricultural imports are expected to fall $600 million in fiscal 1992 to $22 billion.

"With the outlook for higher exports in 1992, and lower imports, the U.S. agricultural trade surplus is forecast to rise more than $3 billion to $18 billion."