# Daybreak: Trade deficit grows as China sales weaken | Agri-Pulse Communications, Inc.

> USDA projects the US agricultural trade deficit will reach $32 billion in fiscal 2024, up from $16.7 billion in FY23. China's ag import projection was cut by $1 billion to $27.7 billion, largely due to Brazilian competition, and US soybean exports to China are down 23% and corn exports down 67% year to date.

- Date: 2024-05-30 · published 2024-05-30T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/14752-daybreak-trade-deficit-grows-as-china-sales-weaken-agri-pulse-communications-inc
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lower Chinese purchases of US soybeans and corn, displaced by Brazilian supply, weaken US export demand and pressure US soybean and corn prices.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-05-23 | [Farm groups cheer aid, but want end to trade war \| 2019-05-23 \| Agri-Pulse \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/59177-farm-groups-cheer-aid-but-want-end-to-trade-war-2019-05-23-agri-pulse-agri.md) | +7.3% | +10.5% |
| SOY | 2018-01-03 | [Ag groups see trade, farm bill among top challenges in 2018 \| 2018-01-02 \| Agri-Pulse \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/66972-ag-groups-see-trade-farm-bill-among-top-challenges-in-2018-2018-01-02-agri.md) | +0.1% | +4.3% |
| SOY | 2025-12-23 | [China lags on soybean buys as officials insist deadline hasn’t moved \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/14613-china-lags-on-soybean-buys-as-officials-insist-deadline-hasn-t-moved-agri-pulse.md) | -0.7% | +1.0% |
| SOY | 2019-10-02 | [It’s not just China: US growers face long-term challenges \| 2019-10-01  \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/56550-it-s-not-just-china-us-growers-face-long-term-challenges-2019-10-01-agri-pulse.md) | +0.1% | -0.1% |
| SOY | 2024-04-17 | [USTR defends administration's response to China's miss on Phase One pledge \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/14759-ustr-defends-administration-s-response-to-china-s-miss-on-phase-one-pledge-agri.md) | +2.0% | +4.7% |
| CORN | 2019-05-23 | [Farm groups cheer aid, but want end to trade war \| 2019-05-23 \| Agri-Pulse \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/59177-farm-groups-cheer-aid-but-want-end-to-trade-war-2019-05-23-agri-pulse-agri.md) | +3.7% | +7.9% |
| CORN | 2018-01-03 | [Ag groups see trade, farm bill among top challenges in 2018 \| 2018-01-02 \| Agri-Pulse \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/66972-ag-groups-see-trade-farm-bill-among-top-challenges-in-2018-2018-01-02-agri.md) | -0.9% | +1.8% |
| CORN | 2019-10-02 | [It’s not just China: US growers face long-term challenges \| 2019-10-01  \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/56550-it-s-not-just-china-us-growers-face-long-term-challenges-2019-10-01-agri-pulse.md) | +2.2% | -1.0% |

## Sources

- agri-pulse.com: https://www.agri-pulse.com/articles/21172-daybreak-trade-deficit-grows-as-china-sales-weaken

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.