Mexico's demand for U.S. grains and soybeans will grow - analyst

Demand for U.S. corn and soybeans in Mexico will continue to grow due to the increasing popularity of meat products, supporting the import of feed ingredients from the U.S., according to a report by Terrain grains and oilseeds analyst Brie Baatz. According to the U.S. Department of Agriculture, Mexico is already the largest export market for U.S. agricultural products, with a volume exceeding $30 billion in 2024 (which is almost 7% more than in 2023). U.S. products account for 75% of Mexico's agricultural imports, which, according to Baatz, underscores "deep trade integration." "In the coming decades, Mexico will remain a key source of export growth for U.S. grains and oilseeds due to Mexico's strong economic performance and the U.S.'s logistical advantage over competitors such as Brazil," Baatz said. The report notes that over the past 25 years, Mexico's overall meat consumption—the world's fifth-largest producer of animal feed—has almost doubled, largely due to population growth ...