USDA: Ag trade deficit is expected to come in at $30.5 billion

2024 is predicted to be yet another year of an agricultural trade deficit.

The USDA is projecting the deficit to be around $30.5 billion. It is the third time in five years the country will import more than it exports. However, the Chief Ag Negotiator says the U.S. is still the breadbasket of the world.

Exports have not tanked, just imports have gone up in order to keep up with demand and the stronger dollar.