# US Ag Trade Deficit Widens to $32 Billion - Farm Policy News

> 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.

- Date: 2024-05-30 · published 2024-05-30T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/14753-us-ag-trade-deficit-widens-to-32-billion-farm-policy-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

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.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-02-16 | [USDA Agricultural Projections to 2032- Focus on Corn, Soybeans - Farm Policy News](https://feedsoft.ai/events/15335-usda-agricultural-projections-to-2032-focus-on-corn-soybeans-farm-policy-news.md) | +0.6% | -2.2% |
| SOY | 2019-03-18 | [USDA Agricultural Projections to 2028- Focus on Corn, Soybeans - Farm Policy News](https://feedsoft.ai/events/60114-usda-agricultural-projections-to-2028-focus-on-corn-soybeans-farm-policy-news.md) | -0.6% | -1.5% |
| SOY | 2023-03-30 | [Ag's new normal includes trade deficits, not surpluses - Farm and Dairy](https://feedsoft.ai/events/14860-ag-s-new-normal-includes-trade-deficits-not-surpluses-farm-and-dairy.md) | +2.3% | -3.4% |
| SOY | 2023-09-06 | [U.S. Agricultural Exports Forecast at $172.0 Billion in Fiscal Year 2024 - Farm Policy News](https://feedsoft.ai/events/14815-u-s-agricultural-exports-forecast-at-172-0-billion-in-fiscal-year-2024-farm.md) | -1.3% | -5.7% |
| SOY | 2020-07-26 | [Perspective on U.S., China Trade, as Phase One Purchases “Strong” this Summer \| Farm Policy News \| Illinois](https://feedsoft.ai/events/51984-perspective-on-u-s-china-trade-as-phase-one-purchases-strong-this-summer-farm.md) | -0.8% | -0.4% |
| CORN | 2023-02-16 | [USDA Agricultural Projections to 2032- Focus on Corn, Soybeans - Farm Policy News](https://feedsoft.ai/events/15335-usda-agricultural-projections-to-2032-focus-on-corn-soybeans-farm-policy-news.md) | -0.4% | -4.9% |
| CORN | 2019-03-18 | [USDA Agricultural Projections to 2028- Focus on Corn, Soybeans - Farm Policy News](https://feedsoft.ai/events/60114-usda-agricultural-projections-to-2028-focus-on-corn-soybeans-farm-policy-news.md) | +2.6% | -3.5% |
| CORN | 2017-10-27 | [USDA-FAS Report: China and Biofuels \| Farm Policy News \| Illinois](https://feedsoft.ai/events/68452-usda-fas-report-china-and-biofuels-farm-policy-news-illinois.md) | -0.2% | -5.4% |

## Sources

- farmpolicynews.illinois.edu: https://farmpolicynews.illinois.edu/2024/05/us-ag-trade-deficit-widens-to-32-billion/

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