# Mexico Chases China for No. 1 Export Market

> USDA forecasts a record $28.4 billion in US food and agricultural exports to Mexico this fiscal year, close to China's $28.7 billion. Strong demand for corn, pork, beef and sweeteners drives the forecast. USDA cut its China sales estimate by $800 million due to South American competition.

- Date: 2024-02-29 · published 2024-02-29T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/14774-mexico-chases-china-for-no-1-export-market
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Record Mexican corn demand supports US corn export prices and offsets some weakness from China. Lost Chinese sales to Brazil keep pressure on US soybean and corn share.

## Read by commodity

- SOY: neutral
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-12-08 | [Export Sales to China and Mexico \| USDA Foreign Agricultural Service](https://feedsoft.ai/events/43568-export-sales-to-china-and-mexico-usda-foreign-agricultural-service.md) | -0.3% | -1.0% |
| CORN | 2024-08-28 | [Export Sales to China, Colombia, and Mexico \| USDA Foreign Agricultural Service](https://feedsoft.ai/events/14724-export-sales-to-china-colombia-and-mexico-usda-foreign-agricultural-service.md) | +4.4% | +6.8% |
| CORN | 2023-12-04 | [Export Sales to China, Mexico, and Philippines \| USDA Foreign Agricultural Service](https://feedsoft.ai/events/14790-export-sales-to-china-mexico-and-philippines-usda-foreign-agricultural-service.md) | +1.7% | +3.1% |
| CORN | 2021-08-24 | [Private Exporters Report Sales Activity for China and Mexico \| USDA Foreign Agricultural Service](https://feedsoft.ai/events/45414-private-exporters-report-sales-activity-for-china-and-mexico-usda-foreign.md) | -0.4% | -10.1% |
| CORN | 2022-03-14 | [Export Sales to Mexico \| USDA Foreign Agricultural Service](https://feedsoft.ai/events/42277-export-sales-to-mexico-usda-foreign-agricultural-service.md) | +1.1% | +10.2% |
| SOY | 2024-10-25 | [Export Sales to China and Mexico \| USDA Foreign Agricultural Service](https://feedsoft.ai/events/14712-export-sales-to-china-and-mexico-usda-foreign-agricultural-service.md) | -1.4% | -1.9% |
| SOY | 2026-08-01 | [Soybean prices need poor weather, exports to China](https://feedsoft.ai/events/18360-soybean-prices-need-poor-weather-exports-to-china.md) | -1.3% | +8.9% |
| SOY | 2024-08-01 | [China's meat sector growth and U.S. grain and oilseed exports](https://feedsoft.ai/events/14739-china-s-meat-sector-growth-and-u-s-grain-and-oilseed-exports.md) | -0.8% | -6.8% |

## Sources

- agriculture.com: https://www.agriculture.com/mexico-chases-china-for-no-1-export-market-8602569

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