NAFTA: Feed Grains
Author
Published
7/28/2017
In recent years, Mexico has been the top export destination for U.S. corn, with Japan serving as a close second. Which market is the top destination tends to be a function of timing, exportable supplies from competing producing nations and exchanges rates. Whether Mexico ranks number one or number two in a given year, it is a market of critical importance for U.S. corn. Since the North American Free Trade Agreement came into effect in 1994, the U.S. has exported more than 163 million metric tons of U.S. corn, valued at nearly $30 billion, to Mexico. Exports have grown more than 7,100 percent by value and more than 4,700 percent by volume since 1993.
Mexico is also particularly important to the grain sorghum market. For many years Mexico had, far and away, been the top export destination for U.S. grain sorghum, regularly purchasing more than 50 percent of exported U.S. sorghum. That situation changed in 2014, once China began aggressively purchasing grain sorghum. Since that time, Mexico has continued to be a steady buyer, when exportable supplies have been available, but at a significantly lower level.
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