Ag Trade Gap Widens: Deficit is now projected to reach almost $50 billion by end of the fiscal year

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.

Related Stories
The debate now matters as much as the policy — market rules and regulatory clarity depend on whether Congress can finish the bill this year.
The U.S. Supreme Court ruled on Friday that imposing duties without Congressional authorization exceeds presidential powers. RealAg Radio host Shaun Haney joins us to discuss the potential trade and agriculture implications of the recent ruling.
Fertilizer still consumes an unusually large share of crop value.
The USDA Agricultural Outlook Forum highlights modest price support from tighter supplies across cotton, grains, dairy, livestock, and sugar into 2026.
The global rice surplus outweighs tighter U.S. supplies, pressuring prices.
Smaller supplies could support cotton prices despite weak demand.

LATEST STORIES BY THIS AUTHOR:

Singer-songwriter and RanchHER Clare Dunn reflects on the importance of National FFA Week, her time in FFA, and her commitment to advocating for agriculture and rural issues.
FFA Western Region Vice President Jael Cruikshank talks about the importance of community service and how National FFA Organization members are making a difference in their communities during National FFA Week.
Ranger Road Fire has burned 283,000 acres across Kansas and the Oklahoma Panhandle and is nearing containment, as ranchers begin assessing cattle and infrastructure losses as they look toward recovery.
National FFA Secretary Lilly Nyland talks about the significance of National FFA Week, member engagement, and the influence FFA continues to have on students nationwide.
New details on the massive wildfire threatening farms and ranches in the Southern Plains.
Pre-filled Applications Available Online to Producers with a Login.gov Account