The ag trade deficit is projected to rise again this year. New numbers out this week show it has taken big leaps over the last couple of seasons.
USDA shows the ag trade deficit will land in the red at $49.5 billion for this fiscal year, which ends in September, and that is up from $49 billion projected back in February. Last year, the deficit was just shy of $32 billion, and it was $17 billion in 2023. In 2021, the ag trade deficit was just $2 billion.
The updates come as USDA lowered its forecast for exports of livestock products, canceling out increases in oilseeds and grains.
Before leaving her trade mission in Rome this week, Ag Secretary Brooke Rollins took to X, commenting on those new numbers. She says the time has come to shrink that gap and open up new markets around the world. She adds that additional bilateral trade deals are on the horizon for U.S. row croppers. Secretary Rollins left Italy yesterday, but has plans for more trips to India, Vietnam, and Japan next month.
As Canada and the United States continue to navigate trade disputes, the review offers farm groups an opportunity to argue for preserving access to integrated North American agricultural markets.
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Texas Cattle Feeders Association says the extended closure took a toll on the state’s cattle industry.
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Farm organizations say fuel and fertilizer costs are putting increasing pressure on family farms.
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Stronger East Coast shipments are giving U.S. corn another route to overseas markets.
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The shipment would mark the first Russian petroleum-products cargo the United States has imported since a 2022 ban on Russian oil and petroleum products.
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Soy Transportation Coalition’s Mike Steenhoek discusses how rising diesel costs affect grain delivery decisions and how farmers can use their free calculator to compare transportation costs and protect profitability.
October 22, 2026 03:00 PM
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