Trade deficit projected to grow as USDA lowers ag trade forecast for FY 2023

University of Missouri ag economist Scott Brown says in its latest Trade Outlook, the USDA projects a significant decline in export values while raising the value of imports.  “We’re going to import $198 billion and exports of $181 billion,” he says.  “We went from Fiscal Year 2022 being net positive to $2.4 billion to now being net-negative $17 billion, importing more in value than we’re exporting.  All of that is not great for us.”

Brown says he continues to monitor the global economic situation. 

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