Even without active demand from China, US grain and oilseed exports are growing

Published Feb 16, 2025

Tridge summary

In 2024, the United States saw a 22% increase in agricultural exports, reaching $191 billion, the third highest on record. This growth, the strongest in the past decade, was driven by the abundant supply and falling prices of U.S. agricultural products, including soybeans and corn. Mexico and Colombia set records for purchases of U.S. agricultural goods, with growth of 29% and 20% respectively. Sales to Japan and South Korea also increased by 43% and 107% respectively. However, demand from China was weak, and its share of U.S. agricultural exports fell to 5%, the lowest in the past 5 years and the 11-year low since.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In 2024, most importers took advantage of the abundant supply and falling prices of exchange-traded U.S. agricultural products, particularly soybeans and corn, which helped the United States increase agricultural exports by 22% from the previous year to $191 billion, the third highest in history, international news agencies reported. This was also the strongest growth in U.S. agricultural exports in the past 10 years. Mexico and Colombia broke their records for purchases of U.S. agricultural goods after growing by 29% and 20%, respectively. Sales to Japan also jumped by 43% to a 6-year high, and to South Korea by 107%, to a 3-year high. The four countries accounted for 44% of U.S. agricultural exports. However, demand from China was ...

Source: Sinor