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Record exports expected
USDA expects agricultural exports to hit a record $78 billion for fiscal year 2007, with two-thirds of the increase due to the grain and oilseed sectors. USDA Secretary Mike Johanns says the demand for corn due to increased ethanol production, reduced competition for wheat, and only moderate growth in South American oilseed production are driving the rise in export value. Livestock and poultry product exports are expected to increase $1.2 billion.
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