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USDA's Economic Research Service projects the US agricultural trade deficit will widen to $32 billion in fiscal 2024, up $1.5 billion from February. Exports are forecast at $170.5 billion, unchanged, while imports rise to $202.5 billion on horticultural and livestock products.
The report is a routine quarterly trade update with grain and feed export forecasts largely unchanged, so it offers little new price direction for feed commodities.
farmpolicynews.illinois.eduRyan HanrahanMay 30, 2024After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% over 20.
After 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 1,283 past report events, Soybean Meal moved a median -0.1% over 5 sessions (47% higher; middle half -2.0% to +1.7%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
