Source: Economic Research Service
 
The U.S. Department of Agriculture has released its Agricultural Projections for 2010-19 outlining its projections for the farm sector including commodities, ag trade and aggregate indicators of the sector for the next 10 years. 


Important assumptions for the projections include:



  • Prospects for the agricultural sector in the near term reflect continuing U.S. and global adjustments to the recession of 2008-09 and the subsequent economic recovery.

  • A resumption of steady global economic growth will support increases in consumption, trade and prices in the longer run.

  • Additionally, long-run developments for global agriculture reflect continued demand for biofuels, particularly in the United States and the European Union.

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