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USDA Agriculture Projections to 2017

The Interagency Agricultural Projections Committee has recently released a report outlining agricultural projections for the next ten years.

The projections are one representative scenario for the agricultural sector for the next decade. As such, the report provides a point of departure for discussion of alternative farm sector outcomes that could result under different assumptions.... Although export competition is projected to continue, global economic growth, particularly in developing countries, provides a foundation for gains in world trade and U.S. agricultural exports. Combined with increases in domestic demand, particularly related to growth in ethanol production, the results are generally higher market prices. As a result, overall net farm income remains strong and reaches record levels in the latter part of the projections. (Source: Report abstract).

USDA agencies that are part of the Projections Committee include the Economic Research Service, Farm Service Agency, Foreign Agricultural Service, Agricultural Marketing Service, Natural Resources Conservation Service, and Cooperative State Research, Education, and Extension Service.