Fiscal 1998 U.S. agricultural exports are projected at $58.5 billion, up $1.2 billion from the $57.3 billion shipped in fiscal year 1997. In the aggregate, the export forecast remains unchanged from August as gains in soybeans offset reductions in meats, wheat, and corn. This forecast includes an anticipated slowdown in U.S. exports to Southeast Asian countries and South Korea. Exports to these countries, currently forecast at $6.2 billion, reflect an estimated $500 million downward adjustment due to the financial crisis.

Fiscal 1998 imports remain at $38 billion, $2.2 billion above 1997.

The anticipated export surplus of $20.5 billion is unchanged from August projections, but $1.0 billion less than the fiscal 1997 surplus.

This outlook reflects commodity forecasts in the November 10, 1997, World Agricultural Supply and Demand Estimates.

December 2, 1997 Economic Research Service

USDA, Washington, D.C.

Statistics

12/02 CHICAGO BOT DELIVERABLE GRAIN STOCKS

12/02 REDBOOK RETAIL AVERAGES Retail Sales Index

12/04 UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

12/01 U.S. EXPORT INSPECTIONS

12/04 EXPORT SALES REPORT

12/01 NAPM REPORT ON BUSINESS

12/02 COMPOSITE INDEXES OF LEADING, COINCIDENT, AND LAGGING OCTOBER 1997

12/02 OUTLOOK FOR U.S. AGRICULTURAL EXPORTS

12/01 OCTOBER 1997 CONSTRUCTION AT $605.5 BILLION ANNUAL RATE

12/04 HOUSING COMPLETIONS SUMMARY OF FINDINGS

12/03 OCTOBER 1997 NEW HOUSING SALES AT ANNUAL RATE OF 797,000

12/04 PRODUCTIVITY AND COSTS Third Quarter 1997

12/05 THE EMPLOYMENT SITUATION NOVEMBER 1997

12/05 MANUFACTURERS' SHIPMENTS INVENTORIES AND ORDERS OCTOBER 1997

Consensus National Futures and Financial On Line Index

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