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.
NCBA CEO Colin Woodall says more conversations need to occur with stakeholders present surrounding President Trump’s proposal to lower consumer beef prices with Argentinian imports.
October 22, 2025 11:53 AM
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Corn and wheat inspections outpaced last year, but soybean movement remains seasonally active yet behind, keeping basis and freight dynamics in focus by corridor.
October 21, 2025 04:00 PM
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Lawmakers are pressing for answers on how Washington’s “managed trade” approach — keeping leverage through long-term tariffs — will affect farmers, global markets, and future export opportunities.
October 21, 2025 12:17 PM
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In the meantime, Senate Majority Leader John Thune is asking that farmers be allowed to use marketing assistance loans to help stay afloat.
October 21, 2025 11:57 AM
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Beef industry groups seem to agree — market-based pricing, not federal intervention, best supports rancher livelihoods and long-term beef supply stability.
October 21, 2025 11:22 AM
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Cattle groups say additional imports would offer little relief for consumers but could erode rancher confidence as the industry begins to rebuild herds.
October 21, 2025 11:06 AM
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