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U.S. to become net food importer.(Insider Report)(Brief Article)

The New American

| January 10, 2005 | COPYRIGHT 2005 American Opinion Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

"For nearly two years, U.S. farmers and ranchers watched as the second shoe grew bigger and bigger," wrote columnist Alan Guebert in the December 7 Peoria Journal-Star. "On November 22, it officially dropped. According to U.S. Department of Agriculture Economic Research Service [ERS] estimates released that day, 2005 will be the first year in nearly 50 that America will not turn an agricultural trade surplus."

The fact that "America is about to become a net food importer for the first time in generations" constitutes "death-in-the-family news," Guebert continues. And "that news is made worse by the speed in which ag imports overtook ag exports. In August, ERS predicted a $2.5 billion ag trade surplus for 2005, the skinniest since 1972 but still a surplus. Three months later, though, ERS lowered 2005 exports ...

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