Dr. Cowley explained that, “Although farm income appears to have stabilized in the short to longer term, one risk to the outlook has been growing supplies. Yields for corn and soybeans have been above 20-year trend levels since 2014 and have contributed to increasing inventories.” “In addition, soybean inventories have doubled since 2015. Growth in U.S. corn and soybean inventories is a risk to the outlook because larger inventories have been linked to lower prices.” “One reason trade is a risk to the outlook is because exports in recent years have contributed a larger share of the total value of U.S. crop production. The total value of crop production has declined since 2013 (Chart 4). At the same time, the total value of crop exports has increased slightly. Over the last four years, the export share of the total value of U.S. crop production increased from 29 percent in 2013 to an estimated 40 percent in 2017.