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Key results in the projections include the following:

Prices for major crops decrease in the early years of the projections as global production responds to recent high prices.
Lower feed costs improve livestock sector returns and provide economic incentives for projected longrun increases in U.S. meat production.
World economic growth and demand for biofuels combine to support longer run increases in consumption, trade, and prices for agricultural products.
Following the near-term declines, prices for corn, wheat, oilseeds, and many other crops remain historically high.
Declining crop prices lead to reductions in the values of U.S. agricultural exports and farm cash receipts rise through 2016. Export values and cash receipts then grow over the rest of the projection period as steady domestic and international economic growth, a weak U.S. dollar, and continuing production of biofuels support longer term demand for U.S. agricultural products. Production expenses also rise beyond 2015, but net farm income remains historically high.