Ag Trade Deficit Down
From the Western Ag Network, I’m Bob Larson. The ag trade deficit continues to drop, forecast down in fiscal ’26 by 42% from fiscal ‘25.
That, as surprisingly large third-quarter economic growth of 3.4% increased the broader trade deficit as more imports were purchased.
But USDA Trade Under Secretary Luke Lindberg says agriculture sold more abroad …
LINDBERG … “The agricultural trade deficit, a staggering $50 billion number, we have cut that trade deficit in half.”
And while the president’s tariff policies remain controversial, US Trade Representative Jamieson Greer added this …
GREER … “We are committed to continuing to use tariffs and to negotiate deals to support the reindustrialization of our economy, protect American workers and increase their wages and shrink our trade deficit.”
That deficit was helped by USDA’s latest Trade Outlook of a $3.2 billion-dollar boost in key farm exports.
Ag Secretary Brooke Rollins …
ROLLINS … “Corn exports are going to be record-breaking …we expect a 35-percent increase in volume in corn exports, dairy exports are going to be up almost 10 percent, sorghum is going to be up almost 100 percent, ethanol up at least 11 percent, probably more.”
And, in value-added products like ethanol …
LINDBERG … “This year, we are breaking a record on US ethanol exports around the world…best year ever.”
…marked by an 11% increase and adding to foreign and domestic demand while supporting badly-needed grain and oilseed prices at home.
