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.
Cuba remains a steady, nearby buyer of U.S. poultry, pork, dairy, and staples, but legal and compliance risks could still affect shipping and payment channels.
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While access to China remains uncertain, U.S. beef exporters are finding resilience and opportunity in other global markets, which could help maintain industry value and expand export opportunities.
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Mike Spier, president and CEO of U.S. Wheat Associates, discusses the new U.S.-Bangladesh trade agreement and its potential benefits for U.S. wheat growers.
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Gretchen Kuck of the National Corn Growers Association joined us to discuss the Ag Coalition for USMCA’s report findings and expectations ahead of the upcoming USMCA review.
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Strong corn exports offer support, while soybeans and wheat remain weighed down by ample global supplies, according to the USDA’s latest WASDE report for February.
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Higher livestock prices reflect resilient demand, even as disease and herd shifts reshape 2026 supply expectations.
February 10, 2026 04:11 PM
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