Market Briefs 12 4 2024

USDA: Record ag trade deficit in FY25

Reduced demand from Asian countries, higher value imports increasing spread.

The U.S. Department of Agriculture (USDA) is projecting the agricultural trade deficit for fiscal year (FY) 2025 will reach a record $45.5 billion, up from previous forecasts, as imports grow faster than exports.

U.S. agricultural exports are expected to decrease slightly to $170 billion, compared to $174.4 billion in FY2024, led by declines in Asian markets. Ag...