WASHINGTON, D.C. — Farm exports in fiscal year 2011 reached a record high of $137.4 billion, exceeding past highs by $22.5 billion, according to reports released by the USDA last Thursday.

“Thanks to the productivity of America’s farmers, ranchers and producers, the American brand of agriculture is surging in popularity worldwide,” said USDA Secretary Tom Vilsack. “Agriculture continues to bolster our nation’s economy by contributing a trade surplus year after year. This year, that surplus hit a record $42.7 billion.”

China was the lead export market for farm products, buying almost $20 billion of goods such as soybeans, cotton, tree nuts and hides.

“There is no doubt that the Asia Pacific region recognizes the United States as a reliable supplier of the highest-quality food and agricultural products,” Vilsack said. “Partnership with growing markets like those in Vietnam and China are integral to the strength of the U.S. economy in the decades ahead.”

It is also good news for the American economy, as farm exports supported 1.15 million jobs in the United States. “Strong export performance means higher incomes for farmers and ranchers, more opportunities for business owners and jobs for folks who package, ship and market agricultural products,” he said.

The report came one day after the USDA’s November corn crop report predicted the nation is harvesting 12.3 billion bushels, down 1 percent from October estimates. Based on conditions as of Nov. 1, yields are expected to average 146.7 bushels per acre, down 6.1 from 2010. If realized, this will be the lowest average yield since 2003.

“USDA estimates that this year’s corn crop will be the fourth largest ever, and it is a big crop, but demand is very strong and the U.S. will need every bushel of corn produced this year to meet the need for food and fuel, to rebuild supplies to a more comfortable level,” said Todd Davis, crops economist for the American Farm Bureau Federation.

“The story for 2012 will be the same as 2011. The U.S. will need more acreage, good yields and a bigger crop next year to meet demand and build supplies.”

Contributing factors to lower yields were flooding and drought in the Midwest and early frost in the northern tier of the Corn Belt. USDA’s final estimate of 2011 corn will be released in January and will include numbers on the total U.S. crop, according to Davis.

“When USDA conducted its November survey, just 34 percent of the Ohio corn crop and 41 percent of the Michigan corn crop was harvested, so there is a good chance that yields and production will decrease from this month’s estimate,” he said. “A smaller crop will place further strain on already tight stocks and support higher prices.”

Nationally, soybean production is forecast at 3.05 billion bushels, down slightly from the October forecast and down 9 percent from last year. Based on Nov. 1 conditions, yields are expected to average 41.3 bushels per acre, down 0.2 bushel from last month and 2.2 bushels from last year. If realized, the average yield will be the second lowest since 2003.

Area for harvest is forecast at 73.7 million acres, unchanged from October but down 4 percent from 2010.