# US farm exports hit three-year low in 2023 as China slows buying

> US corn-plus-soy exports fell 18% in 2023 to 94 million tons, a four-year low. China took only 38% of December cargoes, down from a three-year average of 59%. Agriculture's share of total US exports also dropped to 6.2%.

- Date: 2024-02-08 · published 2024-02-08T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/14771-us-farm-exports-hit-three-year-low-in-2023-as-china-slows-buying
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Weaker export demand, especially from China, leaves more US grain domestically, which pressures corn and soybean prices. Lower export prices for soybeans, corn and wheat in 2023 point to continued bearish pressure.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-05-04 | [Angst in farm belt after reports that China halted buying US soybeans](https://feedsoft.ai/events/65058-angst-in-farm-belt-after-reports-that-china-halted-buying-us-soybeans.md) | +0.8% | +0.6% |
| CORN | 2024-11-07 | [Trump's tariff threat puts US farm exports to China at risk](https://feedsoft.ai/events/14703-trump-s-tariff-threat-puts-us-farm-exports-to-china-at-risk.md) | -0.1% | -2.4% |
| CORN | 2025-03-04 | [China slaps extra tariffs of up to 15% on imports of major US farm exports \| AP News](https://feedsoft.ai/events/14677-china-slaps-extra-tariffs-of-up-to-15-on-imports-of-major-us-farm-exports-ap.md) | +3.2% | +4.7% |
| CORN | 2025-08-25 | [Tariff escalations trigger another decline in US farm exports to China](https://feedsoft.ai/events/14640-tariff-escalations-trigger-another-decline-in-us-farm-exports-to-china.md) | +1.9% | +7.4% |
| CORN | 2024-09-13 | [Weathering the Storm: U.S. Corn Exports Drop as China Shifts Import Strategy](https://feedsoft.ai/events/14719-weathering-the-storm-u-s-corn-exports-drop-as-china-shifts-import-strategy.md) | +2.9% | +3.8% |
| SOY | 2018-05-04 | [Angst in farm belt after reports that China halted buying US soybeans](https://feedsoft.ai/events/65058-angst-in-farm-belt-after-reports-that-china-halted-buying-us-soybeans.md) | -2.9% | -2.1% |
| SOY | 2024-11-07 | [Trump's tariff threat puts US farm exports to China at risk](https://feedsoft.ai/events/14703-trump-s-tariff-threat-puts-us-farm-exports-to-china-at-risk.md) | +1.0% | -0.1% |
| SOY | 2024-01-17 | [China's Q1 Soybean Imports Slow to Four-Year Low as Pig Herds Shrink - Pork Business](https://feedsoft.ai/events/32120-china-s-q1-soybean-imports-slow-to-four-year-low-as-pig-herds-shrink-pork.md) | +1.0% | -3.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/us-farm-exports-hit-three-year-low-2023-china-slows-buying-braun-2024-02-08/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.