U.S. ag exports totaled 14.41 billion in January against imports of $20.66 billion, resulting in a monthly deficit of $6.25 billion. This marked the 15th month of the past 16 in which agricultural trade posted a deficit. Four months into fiscal year (FY) 2025, cumulative exports stood at $63.97 billion, while imports totaled $75.95 billion for a deficit of $11.98 billion.
USDA forecasts ag exports in FY 2025 of $170.5 billion and imports at a record $219.5 billion. That would leave the U.S. with a record ag trade deficit of $49 billion, up from $31.8 billion in FY 2024.
