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.
Cattle markets are collapsing this week, and analysts say that several factors are at play. Consumer beef prices also remain near all-time highs, threatening long-term demand.
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If confirmed, early Chinese buys tighten nearby Gulf/PNW capacity and could bump basis in export-oriented regions.
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Trade pacts with Malaysia and Cambodia unlock tariff-free and preferential lanes for key U.S. farm goods, expanding long-term demand in Southeast Asia.
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The idea of buying more beef from Argentina does not sit well with much of farm country, raising some questions from analysts and producers.
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Shaun Haney, Host of RealAg Radio, discusses President Trump’s move to halt trade talks with Canada and Mexico over a commercial about tariffs launched by the Government of Ontario.
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The President’s trip to Asia this week follows a trade mission by the Iowa Soybean Association. Farmers say they were reminded that U.S. soybeans have an international reputation that can be easy to take for granted here at home.
October 28, 2025 11:28 AM
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