U.S. agricultural sales appear on their way...

U.S. agricultural sales appear on their way to a second year of trade recovery, with exports expected to increase 11% to $31 billion while imports remain at about $25 billion, the Agriculture Department said. In the last fiscal year, ended Sept. 30, farm exports rose 6% to $27.9 billion, still far from the 1981 peak of $43.8 billion. “U.S. farm programs have been adjusted so that we are now competitive in the world marketplace,” said Tom Kay, administrator of the department’s foreign agricultural service. Lower price supports for bulk commodities helped, he said, with subsidies for feed grains slashed 32%, 34% for wheat and 18% for rice.