Mexico becomes major buyer of U.S. soybeans and meal

In the 2024/25 MY, Mexico became the main destination for US agricultural exports. According to World Grain, the share of US products in Mexico's imported dry digestible grain waste (DDGS) and soybean meal was 100%, soybeans - 80%, corn - 90%, and sorghum - 85%.

Such data indicate that Mexico has become a very important market for the US grain and oilseed industry, significantly increasing the volume of supplies of American goods, unlike China, which has reduced its dependence on US agricultural products in recent years. Moreover, analysts expect this trend to continue in the future.

According to forecasts by the International Monetary Fund, over the next 5 years, Mexico's population will grow by at least 1 million people each year, with the peak of growth expected no earlier than in 30 years, while China's population continues to decline.

According to the US Department of Agriculture, Mexico has already become the largest agricultural market for the United States, with exports in 2024 growing by 7% year-on-year to over $30 billion, accounting for 75% of Mexico's agricultural imports.