Mexican imports of U.S. soybean meal dropped 15%, chicken 11% and corn 6% in the first four months of 2017 amid friction between the two neighboring countries over NAFTA, the Wall Street Journal reported.

Soybean meal exports decreased for the first time in four years and chicken exports marked the biggest decline since 2003. Mexico is U.S. farmers' largest export market for soybean meal, chicken and corn.

The decreasing figures illustrate Mexico's move to reduce its reliance on the U.S. for commodities as President Trump looks to renegotiate NAFTA. This comes as U.S. farmers deal with low commodity prices and excess supply.

Raul Urteaga Trani, head of international affairs for Mexico's Secretariat of Agriculture, led a group of Mexican business leaders to South America to explore trade of soybeans, corn and wheat.

"We have to send a signal to policymakers in Washington, and emphasize that we are not sitting still," Trani said.

What's Hot on TheStreet

Snap is bleeding value: Snap Inc. (SNAP) fell nearly 5% by the close of trading on Wall Street Thursday, but never dipped below the $17 price that shares were sold at on March 2, when the company debuted on the Nasdaq with a $3.4 billion IPO. By the end of that first trading day, with shares rising more than 44%, Snap was valued at just under $33 billion.

Since then it has been all downhill for Snap, TheStreet's Martin Baccardax reports.

Investors have questioned the relevance of the company's Snapchat app in a market dominated by messaging services such as Facebook's (FB) WhatsApp and the business-focused Slack Technologies. Wall Street has also raised questions about its ability to monetize the billions of messages it handles each day.

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