Ag Trade Deficit Climbing, Says USDA

You may have heard that the United States racked up a record trade deficit in June. The U.S. purchased $75.7 billion more than was sold. It was the same general pattern when you look at food and agricultural products.

"Another record month for agricultural imports," noted USDA Economist, Bart Kenner. He said U.S. imports set a record in May and another one in June: $15 billion. That made for a June Ag trade deficit of just about $2 billion. 
Now, for the first few months of this fiscal year the U.S. is still maintaining a trade surplus in Ag products.

"The trade balance fiscal year to date is $13.8 billion dollars up from negative negative $ 2.3 billion dollars this time in 2020."

So, Kenner noted, the U.S. still has a healthy trade surplus, but in recent months it's been getting smaller with imports topping exports.

"And we'll see if that trend continues or if it plateaus at some point."

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