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.
Corn Refiners Association VP Kristy Goodfellow offered insight into the Feeding the Economy Report’s key findings, showing the breadth of agriculture’s economic impact and the challenges ahead.
March 27, 2026 03:32 PM
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National Association of Wheat Growers President Jamie Kress discusses how rising fertilizer prices pressure wheat producers and the Administration’s consideration of lowering duties on Moroccan phosphate.
March 27, 2026 02:32 PM
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Justin Tupper with the U.S. Cattlemen’s Association joins us to discuss the USDA’s voluntary labeling updates, industry priorities, and the outlook for U.S. cattle producers.
March 26, 2026 12:26 PM
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For agriculture, the meeting is seen as a potential turning point, with markets watching closely for any signals on trade, exports, and future purchasing commitments.
March 26, 2026 11:16 AM
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As farmers and ranchers navigate rising input costs, lawmakers are considering a roughly $15 billion aid package to help, which would be tied to the spending bill for the war with Iran.
March 25, 2026 12:46 PM
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Lower costs improve competitiveness, but demand remains uncertain.
March 25, 2026 10:00 AM
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