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.
Agricultural exports continue to be a key contributor to rural employment. However, rural businesses still struggle to fill numerous job openings.
October 06, 2025 10:46 AM
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Treasury Secretary Scott Bessent stated this week that the government will intervene to help, following China’s withdrawal from the U.S. soybean market. One trader says the industry will remain in a holding pattern until Tuesday.
October 03, 2025 01:04 PM
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University of Illinois Ag Economist Gary Schnitker says early projections indicate soybeans will be more profitable than corn in 2026.
October 03, 2025 11:53 AM
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“In the first six months of 2025, 181 Chapter 12 bankruptcies were filed nationwide.”
October 02, 2025 11:06 AM
Trump’s upcoming talks raise hopes for U.S. soybeans, but China’s record purchases from Brazil and Argentina show America’s market share remains under heavy pressure.
October 02, 2025 10:27 AM
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Farmers face tighter barge capacity and higher freight costs during peak harvest.
October 01, 2025 04:06 PM
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