U.S. grain exports in all forms (GIAF) surged to over $48 billion in marketing year (MY) 2023/2024, marking a significant achievement for U.S. agriculture, according to the U.S. Department of Agriculture. This impressive total was powered by record-breaking ethanol exports and strong demand from key trading partners like Mexico, Japan, and Colombia.
One of the standout figures from the year was the record 1.75 billion gallons of U.S. ethanol sold internationally, a figure that doesn’t even include an additional estimated 140.5 million gallons of ethanol shipped to Japan in the form of ethyl tert-butyl ether (ETBE). These ethanol exports reflect the growing global demand for U.S. biofuels, which have seen remarkable growth.
"We applaud U.S. farmers and producers for their outstanding efforts in increasing exports this marketing year," said Ryan LeGrand, president and CEO of the U.S. Grains Council (USGC). "Ethanol producers, in particular, continue their trajectory of outstanding growth to meet global market demands."
Mexico remained the top trading partner for U.S. agriculture, importing a record 35 million metric tons (1.38 billion bushels) of GIAF equivalents, driven largely by record corn imports. This solidified Mexico's place as U.S. agriculture's number one overall trading partner. Meanwhile, Japan overtook China to become the second-largest market, demonstrating the success of U.S. efforts to expand market share in Japan despite global competition.
Colombia also made a significant leap, becoming the fourth-largest trading partner for U.S. agriculture with a 129.9% increase in purchases. Other major markets for U.S. grain included Canada, South Korea, Taiwan, the European Union, Guatemala, and Vietnam.
Looking ahead, LeGrand emphasized the U.S. Grains Council's commitment to ensuring even greater success in MY 2024/2025, with efforts already underway to develop markets, enable trade, and enhance global demand for U.S. agricultural products.
This record-breaking year for U.S. grain exports highlights the growing importance of international markets and the resilience of U.S. farmers and producers in the global economy. With ethanol and grain sales rising and key markets expanding, the U.S. agricultural sector is well-positioned for continued growth.
