The Mexican government is making good on its NAFTA renegotiation strategy of diversifying food imports away from the U.S. by arranging wheat imports from Argentina. It has become more reliant on the U.S., with buyers including ADM, Cargill and Lansing sourcing 69% of wheat purchases from the U.S. in the past year vs. 56% a year earlier. Corn is the bigger issue, however. Mexico relies on the U.S. for 99% of its purchases, but only accounts for 21% of U.S. sales by exporters such as Prairie Creek and Scoular.
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