U.S. agriculture registered a $35 million trade deficit in March, according to the latest ag trade data from USDA’s Economic Research Service.
It’s the first monthly ag trade deficit since 2006. It also represents quite a turnaround from just a month earlier when the ag trade surplus was nearly $1.1 billion. Ag exports remained generally strong in March, but the big difference was a sharp increase in the value of ag imports into the U.S. Those imports totaled more than $10.3 billion in March, the second highest number on record.
According to report on DTN’s Washington Watch, monthly changes in the ag trade balance are difficult to interpret. The article says imports tend to be products the United States does not produce advantageously—like coffee and seasonal vegetables, among many others—with less direct impacts on U.S. ag producers.
Source: www.brownfieldagnews.com