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This publication contains recent baseline projections produced by the Food and Agricultural Policy Research Institute (FAPRI) for the U.S. agricultural sector and international commodity markets. These projections serve as a baseline for evaluating and comparing alternative macroeconomic, policy, weather, and technological scenarios. They are intended for use by farmers, government agencies and officials, agribusinesses, and others who do medium-range and long-term planning.
FAPRI baseline projections are grounded on a series of assumptions about the general economy, agricultural policies, the weather, and technological change. Macroeconomic assumptions are based on forecasts prepared by the WEFA Group and Project LINK. It is generally assumed that current agricultural policies will be continued in the United States and other trading nations. The 1996 Federal Agriculture Improvement and Reform (FAIR) Act policies are incorporated in this baseline along with adjustments to the European Union’s Common Agricultural Policy. Average weather conditions and historical rates of technological change are also assumed to prevail during the projection period.
FAPRI recognizes that the Agricultural Outlook is the result of efforts made by numerous individuals. This includes many USDA employees from several agencies within the department. We have also followed advice and counsel from individuals throughout the land grant and other university systems, as well as several extension specialists. Industry experts have also contributed by pointing out errors and areas of concern. We acknowledge and appreciate the help of numerous individuals, but we take full responsibility for any errors that may appear. To view the 1996 International Outlook, click on the link.
For information regarding U.S. results, visit FAPRI at the University of Missouri.
The projections included in this outlook were prepared in April 1996 based on the best information available at that time. This material is based upon work supported by the Cooperative State Research Service, U.S. Department of Agriculture, under Agreement No. 96-34149-2533 and 92-34149-6972. Any opinions, findings, conclusions, or recommendations expressed in this publication are those of the authors and do not necessarily reflect the view of the U.S. Department of Agriculture.
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