Outlook for U.S. Agricultural Trade: February 2023

Overall, China is forecast to remain the largest market for U.S. agricultural exports at $34.0 billion, unchanged from the previous forecast. Exports to Mexico are forecast to remain unchanged at $28.0 billion, while exports to Canada are forecast down $500 million to $27.8 billion on lower corn demand.

The forecasts in this report are based on policies in effect at the time of the February 8, 2023, World Agricultural Supply and Demand Estimates (WASDE) release, and the U.S. production forecasts therein.