The U.S. Agricultural Trade Book

Report Introduction: The United States ranks among the world's largest agricultural exporters and importers—making it a critically important trading partner for nations around the globe. Foreign buyers rely on the United States to supply over three-fifths of the soybeans and feed grains, one-third of the wheat and cotton, and nearly one-fifth of the rice moving in world trade. U.S. agricultural exports are just as important to the U.S. economy as they are to the rest of the world. Because the domestic market for food and fiber is characterized by slow population growth and stable consumption levels, the world market represents the most vibrant growth sector for the U.S. food and agricultural industry. U.S. inflation rates, levels of unemployment, and the ex- change value of the U.S. dollar relative to foreign currencies are all linked to the exchange of agricultural products between the United States and other nations. The chapters that follow highlight the importance of agricultural trade to the average American and to U.S. farmers.