U.S. agricultural exports are expected to strengthen as USDA raised its trade forecast and projected a smaller agricultural trade deficit for fiscal 2026. USDA's Economic Research Service and Foreign Agricultural Service forecast agricultural exports at $179.5 billion, up $3 billion from the agency's May projection. Imports are forecast at $204.5 billion, down $1 billion from May. That would produce an agricultural trade deficit of about $25 billion, compared with the $29 billion deficit projected in May and the record $42.9 billion gap recorded in fiscal 2025. USDA released the updated outlook Thursday as agricultural exporters continue navigating shifting global demand and trade policies. The department also expects exports to increase further in fiscal 2027, forecasting approximately $186.5 billion in agricultural sales abroad. USDA publishes its agricultural trade outlook quarterly through the Economic Research Service and Foreign Agricultural Service, with forecasts covering major commodities and trading partners.
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