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US agricultural exports are heading for a record 140 billion

U.S. ag exports - record $140 billion

U.S. agricultural exports are heading for a record $140 billion in fiscal 2013, which ends Sept. 30.

U.S. agricultural exports are predicted by USDA to hit a record $140 billion for fiscal 2013, which ends Sept. 30.

That's up nearly 40 percent from fiscal 2010.

The catalyst for the record ag exports is growing demand in Asia and in NAFTA partners Canada and Mexico.

China is projected to spend $22.5 billion on U.S. agricultural products, making it to top market in 2013.

Canada ($21.5 billion) and Mexico ($17.7 billion) are the second and third largest markets for U.S. ag exports.

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USDA forecasts ag exports will decline in fiscal 2014 to $135 billion due to lower oilseed prices and falling supplies and weaker demand for cotton.

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