U.S. soybeans and the farmers who grow them were one of the biggest international news stories of 2018. It’s nearly impossible these days to not find soybeans on the front page of any publication, whether digital or print. While the U.S.-China trade dispute continues to be in the spotlight, the U.S. Soy industry has always worked to build and diversify multiple markets around the world.
The Americas region, consisting of Latin America, the Caribbean basin, and Canada, has long been a key market for U.S. Soy.
“At the Ohio Soybean Council, we are excited about the opportunities that the Americas have for Ohio soybean farmers and we look forward to working with the U.S. Soybean Export Council (USSEC) and other partners to continue to increase soybean demand in the region,” says Dave Dotterer, Ohio Soybean Council (OSC) Demand Committee chair.
Canada and Mexico in particular took their turn in the trade spotlight this year as the 24-year-old North American Free Trade Agreement (NAFTA) was renegotiated and replaced by the United States–Mexico–Canada Agreement (USMCA).
As of early December, whole soybean exports to the region are up 153 percent over last year. While these eye-popping numbers are due to trade flows that changed with the U.S.-China trade dispute, this is a market that has always been steady and reliable for the U.S. Soy industry.