According to the latest Commerce Department data, U.S. farm exports boasted a record $196.4 million in the fiscal year 2022. The record tops 2021 data by 14%. Large increases in most sale categories, boosted by growing demand in countries like China, Mexico and Canada led to the boom.
China bought a record $36.4 billion and Canada $28.3 billion. Mexico closely followed at $28 billion. Soybeans led the grain export charts with $33.3 billion in sales, a whopping 26% greater than last year. Wheat rose 15% and corn 12% from last year.
It was cotton, however, that stole the show with the largest increase of 41%, amounting to $9 billion in exports. Dairy, red meats and ethanol also saw increases. Rice and tobacco exports were the only U.S. products to fall.
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