Low commodity prices are dealing another blow to the ag trade deficit. USDA is now preparing for the third straight year of losses.
The Department expects the ag trade deficit to hit $42.5 billion when the fiscal year starts October 1st, which is a drop of $4 billion from this year, and marks the third straight year of declines since hitting a record low in 2022. Ag imports are expected to increase by around $8 billion.
The economy is tightening its grip on the ag industry. The Chicago Fed says farmland values are slowing in their district, and credit challenges are starting to appear. Fed policy advisers say repayment rates are also starting to slow.
Despite the challenges, they say farm balance sheets have been strong overall, even with less working capital.
Industry leaders highlighted trade concerns, export opportunities and the importance of maintaining momentum behind the agreement.
RealAg Radio host Shaun Haney joins us to discuss Canada’s livestock import restrictions, producer reaction to the New World screwworm detection in Texas, and the potential implications for cross-border livestock trade.
HTS Commodities’ Lewis Williamson joins us to recap USDA’s latest Crop Progress Report, troubling winter wheat conditions, and key market factors shaping the markets as the growing season progresses.
Farm Bureau economist John Newton says farm income has declined every quarter for three years.
A new survey of agricultural lenders points to increasing financial stress across the Ninth District.
Researchers say expanded E15 access may benefit corn producers but create challenges for soybean growers.
